Fjölnir played in the top-tier Úrvalsdeild kvenna from 2007 to 2009 and 2010 to 2013.[1] It won its first Úrvalsdeild victory on 3 November 2007.[2] On 2 March 2019, the team won the 1. deild kvenna for the third time in its history.[3] It face Grindavík in the promotion playoffs for a seat in the Úrvalsdeild where it lost 0-3.[4] After the 2019-2020 season was discontinued due to the COVID-19 pandemic in Iceland, Fjölnir was appointed the winner of 1. deild kvenna, due to being in top place at the time, and promoted to the Úrvalsdeild kvenna.[5] Fjölnir finished the 2020–21 season with a 14-7 record and secured a spot in the Úrvalsdeild playoffs for the first time in its history.[6][7]