Valbjörn Thorlaksson (Icelandic name: Valbjörn Þorláksson) (9 June 1934 – 3 December 2009) was an Icelandic track and field athlete who competed in the decathlon and pole vault in the 1960, 1964, and 1968 Summer Olympic Games.
Thorlaksson's best Olympic result was in 1964; he finished 12th in the decathlon. He finished 26th in the same event in 1968.
Thorlaksson had only modest success in open competition, but enjoyed some success in master's track meets, competing at least into the early 1980s. At one time, he held the unofficial 42 inch hurdles record for men over 45 years of age with a time of 15.1.
Thorlaksson died on 3 December 2009.