Vologases V of Parthia ruled the Parthian Empire from 191 to 208. He was the son of Vologases IV (147–191). His succession was not uncontested; a rival King Osroes II (190) had already set himself up in Media before the death of the previous ruler, but Vologases V appears to have quickly put him down. He also served as Roman Client King of Armenia from 186 until 198 and from his Armenian Kingship is also known as Vologases II (Vagharsh II, Armenian: Վաղարշ).
Vologases V was attacked by the Roman emperor Septimius Severus (193–211) in 195. Severus advanced into Mesopotamia, occupied Nisibis and plundered the Parthian capital Ctesiphon in 199, capturing many Parthians and selling them into slavery. He attempted in vain to conquer the Arabic fortress at Atra. In 202, peace was restored with the Roman Empire in effective control the whole of Mesopotamia.
Vologases V was succeeded by his elder son Vologases VI of Parthia (208–228), but a younger son Artabanus IV (216–224) rebelled and civil war ensued. He also had another two sons, Rev I who became King of Iberia and Khosrov I, who succeeded in his Armenian Kingship.