The 2004 season of 2. deild karla was the 39th season of third-tier football in Iceland. [1]
| Pos | Team | Pld | W | D | L | GF | GA | GD | Pts | Promotion or relegation |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | KS (C, P) | 18 | 12 | 3 | 3 | 53 | 30 | +23 | 39 | Promoted to 2005 1. deild karla |
| 2 | Víkingur Ó. (P) | 18 | 12 | 3 | 3 | 32 | 12 | +20 | 39 | |
| 3 | Leiknir R. | 18 | 11 | 5 | 2 | 42 | 17 | +25 | 38 | |
| 4 | Afturelding | 18 | 7 | 4 | 7 | 32 | 29 | +3 | 25 | |
| 5 | Selfoss | 18 | 5 | 6 | 7 | 38 | 37 | +1 | 21 | |
| 6 | Leiftur/Dalvík | 18 | 6 | 3 | 9 | 32 | 39 | −7 | 21 | |
| 7 | Tindastóll | 18 | 5 | 6 | 7 | 35 | 44 | −9 | 21 | |
| 8 | ÍR | 18 | 4 | 6 | 8 | 23 | 33 | −10 | 18 | |
| 9 | Víðir (R) | 18 | 3 | 7 | 8 | 21 | 41 | −20 | 16 | Relegated to 2005 3. deild karla |
| 10 | KFS (R) | 18 | 2 | 3 | 13 | 25 | 51 | −26 | 9 |
| Scorer | Goals | Team |
|---|---|---|
 Ragnar Haukur Hauksson | 17 | KS |
| Þórður Birgisson | 13 | KS |
| Arilíus Marteinsson | 13 | Selfoss |
 Jakob Spangsberg Jensen | 11 | Leiknir R. |
| Hermann Geir Þórisson | 10 | Víkingur Ó. |
| Jón Örvar Eiríksson | 9 | Leiftur/Dalvík |
| Bjarki Már Flosason | 9 | KS |