The Third cabinet of Davíð Oddsson in Iceland was formed 28 May 1999.

[1] Valgerður Sverrisdóttir replaced Finnur Ingólfsson as Minister of Commerce and Minister of Industry.

Jón Halldór Kristjánsson replaced Ingibjörg Pálmadóttir as Minister of Health and Social Security.

Tómas Ingi Olrich replaced Björn Bjarnason as Minister of Education, Science and Culture.