Channel 5 began transmission on 30 March 1997. The original identity was developed by Wolff Olins for the retuning campaign that preceded the channel's launch. The identity used on screen was developed by Silver Hammer from California, USA.
Channel 5 was renamed Five on 16 September 2002. The rebrand was created by the agency Spin, who has been redesigning Channel 4's logo from 1999. A set of idents, similar to the original ones, was launched on March 8, 2004. A new look was launched later in November. This time the logo would appear as part of the idents, instead of just superimposed. The rebrand was taken care of by Devilfish.
The final set with this logo was launched on 23 January 2006 but didn't actually use the logo in them. Instead, various words connected to the ident were shown in the same font as the logo. The idents were created by BB/Saunders.  New versions of the "words" idents came about in January 2007, with all the words replaced by "five". When the new logo occurred on 6 October 2008, Five US would continue to use this logo until it was renamed Five USA on 16 February 2009.
Following the sale of the Channel 5 group from the RTL Group to Northern & Shell, the channels were rebranded. Five was once again renamed Channel 5 on 14 February 2011. The new logo is a circle surrounding the 5. This logo is a bit similar to the logo of the Philippine 5 Network introduced the previous year, and a similar logo would later be used by ABC affiliate WEWS-TV, starting in mid-2016.
Following the sale of the Channel 5 group from Northern & Shell to Viacom, a new logo for the main channel, featuring 5 segments creating the numeral, was officially launched on 11 February 2016. No logo appears on new idents as the five entities appear, that the logo appears separately on break bumpers, and on promos and end-boards instead. The logo has been criticized for looking similar to Channel 4's and Seven Network's logos.
On 26 February 2020, Channel 5 refreshed their on-screen presentation using solely graphical elements; this also marks the return of the logo to the idents for the first time in 4 years.