Twelve teams contested the league, including the defending champions KR, who won their 27th league title in 2019.
[1] The season was scheduled to begin on 22 April 2020 and conclude on 26 September 2020, however this was delayed due to the COVID-19 pandemic.
[2] The standings based on the average number of points per matches played for each team were considered final and used to determine the champions, European spots and relegation.
[3] The 2020 Úrvalsdeild is contested by twelve teams, ten of which played in the division the previous year and two teams promoted from 1. deild karla.
The bottom two teams from the previous season, Grindavík and ÍBV, were relegated to the 2020 1. deild karla and were replaced by Grótta and Fjölnir, champions and runners-up of the 2019 1. deild karla respectively.