The Faroese Football Championship in 1946 was the fourth edition of the Faroese Meistaradeildin . The game was played in the knockout system , regionally also in league mode. The champion was determined in a final, which B36 Tórshavn won for the first time. Defending champion KÍ Klaksvík was eliminated in the preliminary round.
There were initially three regional qualifications (Eystan, Vestan, and Suðuroy ) held. The modes in the individual regions were very different. While in Eystan and Vestan three teams determined the semi-finals in league mode, there was only one qualifying game between the two applicants there in Suðuroy. The winners of the three regional finals then played out the champions in a semi-final and the final.