The 1977 Icelandic Cup was the 18th edition of the National Football Cup.
It took place between 31 May 1975 and 11 September 1975, with the final played at Laugardalsvöllur in Reykjavik. The cup was important, as winners qualified for the UEFA Cup Winners' Cup (if a club won both the league and the cup, the defeated finalists would take their place in the Cup Winners' Cup).
The 10 clubs from the 1. Deild entered in the last 16, with clubs from lower tiers entering in the three preliminary rounds. Teams played one-legged matches. In case of a draw, the match was replayed at the opposition's ground.
Valur Reykjavik won their fourth Icelandic Cup, beating Fram Reykjavik in the final. The club therefore qualified for Europe.
First round
Second round
Third round
Fourth round
Entry of ten teams from the 1. Deild
Quarter finals
Semi finals
Final
Valur Reykjavik won their fourth Icelandic Cup and qualified for the 1978–79 European Cup Winners' Cup.