The Hungarians, who beat Austria 2-0 in their opening match, brought in midfielder Zoltan Stieber, forward Tamas Priskin and Roland Juhasz.
The trio replaced winger Krisztian Nemeth, striker Adam Szalai and injured defender Attila Fiola.
Iceland produced a resilient performance to draw 1-1 with group favourites Portugal in their first game.
(Writing by Ed Osmond; Editing by Ian Chadband)
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