The Team of the 20th Century in Icelandic basketball was chosen in 2001. The selection of the men's team was made by a 50-person panel while a 25-person panel selected the women's team.
Player of the century
Pétur Guðmundsson
Starting five
F - Valur Ingimundarson
F - Teitur Örlygsson
C - Pétur Guðmundsson
G - Jón Sigurðsson
G - Jón Kr. Gíslason
Bench
G - Þorsteinn Hallgrímsson
F - Torfi Magnússon
F - Símon Ólafsson
G - Kolbeinn Pálsson
C - Einar Bollason
F - Guðmundur Bragason
G - Pálmar Sigurðsson
Player of the century
Anna María Sveinsdóttir
Starting five
F - Linda Stefánsdóttir
F - Guðbjörg Norðfjörð
C - Anna María Sveinsdóttir
G - Linda Jónsdóttir
G - Björg Hafsteinsdóttir
Bench
F - Hanna Kjartansdóttir
G - Alda Leif Jónsdóttir
F - Erla Þorsteinsdóttir
C - Kolbrún Leifsdóttir
F - Hafdís Helgadóttir
G - Emilía Sigurðardóttir
G - Erla Reynisdóttir
Einar Bollason
Friðrik Ingi Rúnarsson
Jón Otti Ólafsson
Leifur S. Garðarsson