The season started on 2 November 1980 and ended on 22 February 1981.

KR won its third title in a row and fourth overall by finishing with the best record in the league.

[1] Linda Jónsdóttir finished as the top scorer with 192 points.

[2] The participating teams played each opponent four times for a total of eight games.

The team with the best record was crowned national champions.