1965 Icelandic Cup
The 1965 Icelandic Cup was the sixth edition of the National Football Cup.
It took place between 31 July 1965 and 31 October 1965, with the final played at Melavöllur in Reykjavík. The cup was important, as winners qualified for the UEFA Cup Winners' Cup. Teams from the Úrvalsdeild karla did not enter until the quarter-finals. In prior rounds, teams from the 2. Deild, as well as reserve teams, played in one-legged matches. In case of a draw, the match was replayed.
For the first time in 5 years, KR Reykjavík were eliminated when they entered, in the quarter-finals. Valur Reykjavík won the Cup, beating IA Akranes 5 - 3 in the final.
Second round
- Entrance of Breiðablik Kopavogur and Valur Reykjavík B.
| Team 1 | Team 2 | Result |
| Valur Reykjavík B | Breiðablik Kopavogur | 3 - 1 |
| Týr Vestmannaeyjar | þrottur Reykjavík | 1 - 3 |
| KR Reykjavík B | þor Vestmannaeyjar | 2 - 1 |
| Fram Reykjavík B | FH Hafnarfjörður B | 1 - 2 |
Quarter finals
| Team 1 | Team 2 | Result |
| ÍBA Akureyri | KR Reykjavík | 2 - 0 |
| IA Akranes | FH Hafnarfjörður | 3 - 0 |
| ÍBK Keflavík | KR Reykjavík B | 2 - 1 |
| Fram Reykjavík | Valur Reykjavík | 0 - 1 |
Final
- Valur Reykjavík won their first Icelandic Cup and qualified for the 1966–67 European Cup Winners' Cup.