Top scorers
| Scorer | Goals | Team |
|---|---|---|
 Sverrir Herbertsson | 11 | KR |
| Stefán Örn Sigurðsson | 10 | KR |
| Bjarni Kristjánsson | 7 | Austri |
| Sigurður Indriðason | 7 | KR |
| Vilhelm Fredriksen | 7 | KR |
| Þráinn Ásmundsson | 7 | Ármann |
The 1978 season of 1. deild karla was the 24th season of second-tier football in Iceland. It is notable for being the only season KR have spent outside the top tier.
| Pos | Team | Pld | W | D | L | GF | GA | GD | Pts | Promotion or relegation |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | KR (C, P) | 18 | 13 | 4 | 1 | 48 | 9 | +39 | 30 | Promoted to 1979 Úrvalsdeild |
| 2 | Haukar (P) | 18 | 8 | 5 | 5 | 28 | 24 | +4 | 21 | |
| 3 | ÍBÍ | 18 | 7 | 6 | 5 | 31 | 25 | +6 | 20 | |
| 4 | Þór A. | 18 | 7 | 6 | 5 | 18 | 16 | +2 | 20 | |
| 5 | Reynir S. | 18 | 7 | 4 | 7 | 22 | 21 | +1 | 18 | |
| 6 | Austri | 18 | 6 | 6 | 6 | 17 | 21 | −4 | 18 | |
| 7 | Þróttur N. | 18 | 7 | 4 | 7 | 25 | 30 | −5 | 18 | |
| 8 | Fylkir | 18 | 7 | 2 | 9 | 22 | 23 | −1 | 16 | |
| 9 | Ármann (R) | 18 | 5 | 2 | 11 | 21 | 33 | −12 | 12 | Relegated to 1979 2. deild |
| 10 | Völsungur (R) | 18 | 2 | 3 | 13 | 18 | 48 | −30 | 7 |
| Scorer | Goals | Team |
|---|---|---|
| Sverrir Herbertsson | 11 | KR |
| Stefán Örn Sigurðsson | 10 | KR |
| Bjarni Kristjánsson | 7 | Austri |
| Sigurður Indriðason | 7 | KR |
| Vilhelm Fredriksen | 7 | KR |
| Þráinn Ásmundsson | 7 | Ármann |
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