The 1994 Mjólkurbikarinn was the 35th season of the Icelandic national football cup. It started on 31 May 1994 and concluded with the final on 28 August 1994. The winners qualified for the qualifying round of the 1995–96 UEFA Cup Winners' Cup.
First round
|colspan="3" style="background-color:#97DEFF"|31 May 1994
|colspan="3" style="background-color:#97DEFF"|1 June 1994
Second round
|colspan="3" style="background-color:#97DEFF"|15 June 1994
|colspan="3" style="background-color:#97DEFF"|16 June 1994
Third round
|colspan="3" style="background-color:#97DEFF"|28 June 1994
|colspan="3" style="background-color:#97DEFF"|29 June 1994
|colspan="3" style="background-color:#97DEFF"|30 June 1994
Fourth round
|colspan="3" style="background-color:#97DEFF"|14 July 1994
|colspan="3" style="background-color:#97DEFF"|15 July 1994
Quarter-finals
|colspan="3" style="background-color:#97DEFF"|24 July 1994
|colspan="3" style="background-color:#97DEFF"|25 July 1994
Semi-finals
|colspan="3" style="background-color:#97DEFF"|17 August 1994
Final
References