Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1994 |  | Albert Sævarsson | GK | |||
| 01/1994 | | Sigurður Sigursteinsson | DF |  | ÍA Akranes | ÍA Akranes |
| 01/1994 | | Guðmundur Helgason | MF | |||
| 01/1994 | | Ingi Sigurðsson | MF |  | ÍB Vestmannaeyjar | ÍBV |
| 01/1994 | | Þorsteinn Einarsson | FW |  | Víðir Garður | Víðir Garður |
| 01/1994 |  | Luka Kostić | MA | | ÍA Akranes | ÍA Akranes |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1994 | | Þorsteinn Bjarnason | GK |  | UMF Njarðvík | UMF Njarðvík |
| 01/1994 | | Einar Ásbjörn Ólafsson | MF |  | Keflavík ÍF | Keflavík |