It took place between 12 July 1969 and 7 December 1969, with the final played at Melavöllur 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). Teams from the Úrvalsdeild karla (1st division) did not enter until the quarter finals. In prior rounds, teams from the 2. Deild (2nd division), as well as reserve teams, played in one-legged matches. In case of a draw, lots were drawn. From the semi-finals, after a replay, lots were drawn.
ÍBA Akureyri, who had a terrible season in the 1. Deild, won their first ever Icelandic Cup, and so qualified for Europe. In another first, the final was replayed after the first match was drawn 1-1.
The 1972 Icelandic Cup was the 13th edition of the National Football Cup.
The 1960 Icelandic Cup was the first edition of the National Football Cup.
The 1961 Icelandic Cup was the second edition of the National Football Cup.
The 1962 Icelandic Cup was the third edition of the National Football Cup.
The 1963 Icelandic Cup was the fourth edition of the National Football Cup.
The 1964 Icelandic Cup was the fifth edition of the National Football Cup.
The 1965 Icelandic Cup was the sixth edition of the National Football Cup.
The 1966 Icelandic Cup was the seventh edition of the National Football Cup.
The 1967 Icelandic Cup was the eighth edition of the National Football Cup.
The 1968 Icelandic Cup was the ninth edition of the National Football Cup.
The 1970 Icelandic Cup was the 11th edition of the National Football Cup.
The 1971 Icelandic Cup was the 12th edition of the National Football Cup. Víkingur Reykjavík were winners.
The 1973 Icelandic Cup was the 14th edition of the National Football Cup.
The 1974 Icelandic Cup was the 15th edition of the National Football Cup.
The 1975 Icelandic Cup was the 16th edition of the National Football Cup.
The 1977 Icelandic Cup was the 18th edition of the National Football Cup.
The 1978 Icelandic Cup was the 19th edition of the National Football Cup.
The 1979 Icelandic Cup was the 20th edition of the National Football Cup.
The 1981 Icelandic Cup was the 22nd edition of the National Football Cup.
The 1990 Icelandic Cup was the 31st edition of the National Football Cup.
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