The First Round consisted of 38 teams from the lower Icelandic divisions and eight teams from the third division. The matches were played between 7 and 9 May 2010.
The Second Round included the 23 winners from the previous round as well as one team from the lower Icelandic divisions (Höfrungur), four teams from the third division and all 12 teams from the second division. The matches were played between 17 and 19 May 2010.
The Third round included the 20 winners from the previous round and the 12 teams from the Úrvalsdeild. These matches were played on 2 and 3 June 2010. The round saw the demise of the reigning champions Breiðablik come to an end at the hands of FH and a penalty shoot out which saw Breiðablik miss 3 penalty kicks in a row. The round also saw the progression of two 2. deild karla teams to the fourth round, BÍ/Bolungarvík and Vikingur Ó.
The semi-final matches involve the four winners from the previous quarter-final round on 28 and 29 July 2010. The draw took place at the Football Association of Iceland headquarters in Reykjavík on 13 July 2010.