1998–99 Úrvalsdeild karla (basketball)
| Champions | Keflavík (5th title) |
|---|---|
| Runners-up | Njarðvík |
| Semifinalists | KFÍ, Grindavík |
| Relegated | Valur |
| Teams | 12 |
| Dates | October 1, 1998 – April 22, 1999 |
| Top seed | Keflavík |
| Awards | |
| Domestic MVP |
 Falur Harðarson
|
| Foreign MVP |
 Damon Johnson
|
| Statistical leaders | |
| Points |
John Woods
30.5
|
| Rebounds |
Rob Wilson
14.6
|
| Assists |
Warren Peebles
8.3
|
|
← 1997–98
1 Sponsored league name, referring to Úrvalsdeild karla.
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The 1998–99 Úrvalsdeild karla was the 47th season of the Úrvalsdeild, the top tier men's basketball league on Iceland. The season started on October 1, 1998 and ended on April 22, 1999. Keflavík won its fifth title by defeating Njarðvík 3–2 in the Finals.
The participating teams first played a conventional round-robin schedule with every team playing each opponent once "home" and once "away" for a total of 22 games. The top eight teams qualified for the championship playoffs whilst the bottom team was relegated to Division 1.
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