The 1974 Icelandic Cup was the 15th edition of the National Football Cup.
It took place between 12 June 1974 and 14 September 1974, with the final played at Laugardalsvöllur in ReykjavÃÂk. 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).
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.
Valur won their second Icelandic Cup, beating ÃÂA in the final. The club therefore qualified for Europe.
|colspan="3" style="background-color:#97DEFF"|17 July 1974
|colspan="3" style="background-color:#97DEFF"|12 June 1974
|- |colspan="3" style="background-color:#97DEFF"|19 June 1974
|- |colspan="3" style="background-color:#97DEFF"|17 July 1974
|colspan="3" style="background-color:#97DEFF"|17 July 1974
|- |colspan="3" style="background-color:#97DEFF"|18 July 1974
|- |colspan="3" style="background-color:#97DEFF"|24 July 1974
|colspan="3" style="background-color:#97DEFF"|31 July 1974
|colspan="3" style="background-color:#97DEFF"|14 August 1974
|colspan="3" style="background-color:#97DEFF"|28 August 1974
|- |colspan="3" style="background-color:#97DEFF"|14 September 1974
<small><sup>1</sup> The match was replayed after a 2âÂÂ2 draw.</small>