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The 1979 Icelandic Cup was the 20th edition of the National Football Cup.
It took place between 30 May 1979 and 26 August 1979, with the final played at Laugardalsvöllur in Reykjavík. The cup was important, as winners qualified for the UEFA Cup Winners' Cup (if a club won both the league and the cup, the defeated finalists would take their place in the Cup Winners' Cup).
The 10 clubs from the 1. Deild entered in the last 16, with clubs from lower tiers entering in the three preliminary rounds. Teams played one-legged matches. In case of a draw, the match was replayed at the opposition's ground.
Fram Reykjavík won their third Icelandic Cup, beating Valur Reykjavík in the final. The club therefore qualified for Europe.