IROC V was the fifth year of IROC competition, which took place over three weekends in 1977 and 1978. It saw the use of the Chevrolet Camaro in all races, and the schedule was held over in its entirety from IROC IV. Al Unser won two races en route to the championship and $50,000.

The roster of drivers and final points standings were as follows:^[1]

Rank	Driver	Winnings	Series
1	Al Unser	$50,000	USAC Champ Car
2	Mario Andretti	$26,000	USAC Champ Car
3	Darrell Waltrip	$23,000	NASCAR Winston Cup
4	Cale Yarborough	$23,000	NASCAR Winston Cup
5	Richard Petty	$20,000	NASCAR Winston Cup
6	Gordon Johncock	$17,500	USAC Champ Car
7	Benny ParsonsAll	$16,000	NASCAR Winston Cup
8	Jacky Ickx	$15,000	Formula One
9	Johnny Rutherford	$12,000	USAC Champ Car
10	Gunnar Nilsson3	$7,500	Formula One
11	Tom Sneva	$7,500	USAC Champ Car
12	Al Holbert	$7,500	IMSA Camel GT

Race results

Michigan International Speedway, Race One

1. Al Unser
2. Cale Yarborough
3. Darrell Waltrip
4. Richard Petty
5. Gunnar Nilsson
6. Gordon Johncock
7. Mario Andretti
8. Johnny Rutherford
9. Benny Parsons
10. Al Holbert
11. Tom Sneva
12. Jacky Ickx

Riverside International Raceway, Race Two

1. Al Unser
2. Richard Petty
3. Gordon Johncock
4. Mario Andretti
5. Darrell Waltrip
6. Gunnar Nilsson
7. Johnny Rutherford
8. Jacky Ickx
9. Benny Parsons
10. Cale Yarborough
11. Al Holbert
12. Tom Sneva

Riverside International Raceway, Race Three

1. Cale Yarborough
2. Mario Andretti
3. Al Unser
4. Darrell Waltrip
5. Richard Petty
6. Gunnar Nilsson
7. Jacky Ickx
8. Benny Parsons
9. Johnny Rutherford
10. Gordon Johncock
11. Tom Sneva
12. Al Holbert

Daytona International Speedway, Race Four

1. Mario Andretti
2. Darrell Waltrip
3. Gordon Johncock
4. Cale Yarborough
5. Benny Parsons
6. Jacky Ickx
7. Al Unser
8. Richard Petty
9. Johnny Rutherford