The 1955 season of Úrvalsdeild was the 44th season of league football in Iceland. KR won their 15th title. This was the first season that a team got relegated from the division, and Þróttur was the first team to drop down to the 2. deild karla. ÍA's Ríkharður Jónsson, Þórður Jónsson and Þórður Þórðarson were the joint top scorers with 7 goals.
Knattspyrnufélagið Valur is an Icelandic athletic club based in Reykjavík, Iceland. The club is situated close to the city centre, in the east side of town, the club was originally formed as part of the local YMCA to play association football, but later incorporated handball and basketball. The club has won national and cup titles amongst both men and women in the three biggest local ball sports, football, handball and basketball. Valurs handball section reached the EHF Champions League final in 1980 and it has won the Icelandic league 22 times, more than any other N1 deildin team. The club was founded on 11th May 1911, as a subdivision of KFUM, later that year its name was changed to Valur, which is an Icelandic word for gyrfalcon. In 1930 the club won its first national title, and it has been amongst the best football teams in the country ever since, in 1939 Valur bought the farmland of Hlíðarendi which retains its name even today, where they now have a football field and an indoor arena. Originally Valur played only football, but around 1940 the club got involved in more sports and they won their first national handball title in 1940, and reached the final of the EHF Champions League in 1980. In the post-war era, a handball division was started at Valur. In 1970, Körfuknattleiksfélag Reykjavíkur joined Valur and became their basketball division, the grounds at Hlíðarendi were completely renovated in the years between 2004 and 2007. Valur currently play their games at Valsvöllur and the handball games in the Valshöllin. The football pitch was used for the first time in the 2008 season, in June 2007 the club signed a 5-year sponsorship deal with Vodafone. Players may hold more than one non-FIFA nationality, note, Flags indicate national team as defined under FIFA eligibility rules. Players may hold more than one non-FIFA nationality