Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1994 |  | Slobodan Milišic | DF | |||
| 01/1994 |  | Matthías Sigvaldason | DF |  | Dalvík/Reynir | Dalvík/Reynir |
| 01/1994 | | Júlíus Tryggvason | DF | |||
| 01/1994 | | Baldur Bragason | MF |  | Valur Reykjavík | Valur |
| 01/1994 | | Sverrir Sverrisson | MF |  | UMF Tindastóll | UMF Tindastóll |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1994 | | Pétur Marteinsson | DF |  | Fram Reykjavík | Fram |