The 1995–1996 Úrvalsdeild kvenna was the 39th season of the top-tier women's basketball league in Iceland. The season started on 6 October 1995 and ended on 13 March 1996. Keflavík won its 7th title by defeating KR 3–1 in the Finals.[1][2]
The participating teams first played a conventional round-robin schedule with every team playing each opponent once "home" and once "away" for a total of 18 games. The top four teams qualified for the championship playoffs while the bottom team was relegated to the second-tier Division I.