The two-loop Euler-Heisenberg-type effective action for N = 1 supersymmetric QED is computed within the background field approach. The background vector multiplet is chosen to obey the constraints D alpha W beta = D-(alpha W beta) = const, but is otherwise completely arbitrary. Technically, this calculation proves to be much more laborious as compared with that carried out in hep-th/0308136 for N = 2 supersymmetric QED, due to a lesser amount of suppersymmetry. Similarly to Ritus' analysis of spinor and scalar QED, the two-loop renormalisation is carried out using proper-time cut-off regularisation. A closed-form expression is obtained for the holomorphic sector of the two-loop effective action, which is singled out by imposing a relaxed super self-duality condition.