The 2006 Armenian First League season started on 1 May 2006. The last matches were played on 24 October 2006. Pyunik-2 became the league champions, but because they are a reserve team they were unable to promote to the Armenian Premier League. As a result, the second placed team Lernayin Artsakh was given promotion. Due to Banants-2 and Ararat-2 finishing in third and fourth position, the fifth placed team FC Dinamo Yerevan played in the promotion/relegation play-off, which was lost in the end.
| Pos | Team | Pld | W | D | L | GF | GA | GD | Pts | Promotion or qualification |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Pyunik-2 | 18 | 14 | 3 | 1 | 80 | 11 | +69 | 45 | Champions |
| 2 | Lernayin Artsakh | 18 | 12 | 3 | 3 | 57 | 32 | +25 | 39 | Promoted to Armenian Premier League. Champions were unable to promote. |
| 3 | Banants-2 | 18 | 11 | 3 | 4 | 40 | 16 | +24 | 36 | |
| 4 | Ararat-2 | 18 | 11 | 1 | 6 | 46 | 24 | +22 | 34 | |
| 5 | Dinamo | 18 | 9 | 4 | 5 | 36 | 34 | +2 | 31 | Promotion/relegation play-off. |
| 6 | Patani | 18 | 6 | 3 | 9 | 43 | 49 | −6 | 21 | |
| 7 | Gandzasar-2 | 18 | 5 | 4 | 9 | 33 | 36 | −3 | 19 | |
| 8 | Mika-2 | 18 | 4 | 5 | 9 | 20 | 24 | −4 | 17 | |
| 9 | Hay Ari | 18 | 3 | 2 | 13 | 22 | 60 | −38 | 11 | |
| 10 | Yezerk | 18 | 1 | 0 | 17 | 12 | 103 | −91 | 3 | |
| 11 | Kotayk-2 | 0 | - | - | - | - | - | — | 0 | Withdrew before start of the season. |
| 12 | Vagharshapat | 0 | - | - | - | - | - | — | 0 | |
| 13 | Lori Vanadzor | 0 | - | - | - | - | - | — | 0 | |
| 14 | Yerevan United | 0 | - | - | - | - | - | — | 0 |
| Date | Venue | PL Team | Result | FL Team |
|---|---|---|---|---|
| 18 November | unknown | Ulisses | 4 - 2 | Dinamo Yerevan |