Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 10/2012 |  | Ingi Ingibergsson | MF |  | Ægir | Ægir |
| 09/2012 | | Sindri Pálmason | MF | |||
| 07/2012 | | Dofri Snorrason | DF |  | KR Reykjavík | KR |
| 07/2012 | | Egill Jónsson | DF | | KR Reykjavík | KR |
| 07/2012 | | Hafþór Þrastarson | MF |  | FH Hafnarfjörður | FH |
| 07/2012 |  | Markus Hermo | DF |  | Byåsen Toppfotball | Byåsen Toppfotball |
| 07/2012 |  | Bernard Brons | MF |  | Fana IL | Fana IL |
| 05/2012 |  | Moustapha Cissé | MF | |||
| 04/2012 | | Abdoulaye Ndiaye | FW | |||
| 03/2012 | | Jon André Røyrane | MF | |||
| 01/2012 |  | Ismet Duracak | GK |  | Hønefoss BK | HBK |
| 01/2012 | | Gunnar Már Hallgrímsson | GK | |||
| 01/2012 | | Robert Sandnes | DF |  | Aalesunds FK | Aalesunds FK |
| 01/2012 | | Magnús Ingi Einarsson | MF | |||
| 01/2012 | | Ólafur Finsen | MF |  | UMF Stjarnan | Stjarnan |
| 01/2012 | | Tómas Leifsson | MF |  | Fram Reykjavík | Fram |
| 01/2012 | | Ingvi Rafn Óskarsson | MF |  | Árborg | Árborg |
| 01/2012 | | Þorsteinn Þorsteinsson | MF | | Árborg | Árborg |
| 01/2012 | | Svavar Jóhannsson | FW |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 08/2012 |  | Joe Tillen | MF |  | Valur Reykjavík | Valur |
| 07/2012 | | Abdoulaye Ndiaye | FW |  | Hamar | Hamar |
| 07/2012 | | Ingvi Rafn Óskarsson | MF | | Hamar | Hamar |
| 05/2012 | | Þorsteinn Þorsteinsson | MF | | Árborg | Árborg |
| 05/2012 | | Ingi Ingibergsson | MF | | Ægir | Ægir |
| 04/2012 | | Sene Abdalha | FW | | Hamar | Hamar |
| 04/2012 | | Elías Einarsson | GK | | Árborg | Árborg |