The rivalry between and Valur is one of the most storied and multi-faceted in Icelandic sports, spanning handball, basketball, and football . While they are local competitors from Hafnarfjörður and Reykjavík respectively, their most intense clashes occur in handball, where both clubs have established themselves as dominant forces in the Olís deildin (Icelandic Premier League). The Handball Heartbeat
: The rivalry is noted for its unpredictability; in April 2023, Haukar, who barely qualified for the playoffs as the 8th seed, shocked the top-seeded Valur with a away victory.
: On the men's side, games are often decided by thin margins. A March 2025 encounter saw Valur edge out Haukar
Handball is the primary arena where the Haukar-Valur rivalry defines Icelandic sporting excellence. Both clubs have rich histories of domestic titles and international competition, including notable Haukar victories over European giants like FC Barcelona.