[1] They made a draw against Fimleikafélag Hafnarfjarðar, 1:1, in the last round, but it was clear before the game that they needed to win.

On September 22, 2007, Grindavík won a promotion back to the Úrvalsdeild after a 6–0 win over Reynir Sandgerði, with still one round unplayed.

Andri Rúnar Bjarnason finished as the league's top goalscorer and was named the player of the season.

[2] Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.

Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.