Chronology
| Year | Model | Constructor's championship |
|---|---|---|
| 1973 | OW20: Liquid-cooled, inline-4, 2-stroke engine, chromoly frame. Yamaha’s first 500cc factory bike won from the outset at the first round of the 1973 season, ridden by Jarno Saarinen. | 2nd |
| 1974 | OW23: Yamaha’s first machine created specifically for 500cc racing. Yamaha won their first 500cc constructor’s championship with it and in 1975 Giacomo Agostini rode the revised OW26 to a world championship as well as giving Yamaha their second 500cc constructor’s championship. | 1st |
| 1975 | 1st | |
| 1976 | 2nd | |
| 1977 | OW35: Changes were made to the valve intake system, stroke ratio and carburator. | 2nd |
| OW35K: Introduction of Yamaha’s Power Valve System (YPVS). Kenny Roberts won his first of three championships with it. | ||
| 1978 | 2nd | |
| 1979 | OW45 | 2nd |
| 1980 | OW48: Introduction of an aluminum frame to the YZR500. | 2nd |
| OW48R: At round 4 of the season, the YZR500 returned to a steel frame, and the engine had the outer cylinders reversed and thus rear-directional exhaust. | ||
| 1981 | OW53: Same rear-directional exhaust as the OW48R, and the aluminum frame used a squared cross-section. Last inline-4 YZR500. | 2nd |
| OW54: Square-4 engine, rotary disc valve. | ||
| 1982 | OW60 | 2nd |
| OW61: The first V4 engine in a 500cc Grand Prix motorcycle. Also had a new frame structure that was the basis for the Deltabox frame, which was developed by Spanish engineer Antonio Cobas. | ||
| 1983 | OW70: Introduction of the aluminum Deltabox frame and designed specifically for a 17-inch front wheel (from 18 inches). | 2nd |
| 1984 | OW76: Crankcase reed valve system. Eddie Lawson wins the rider championship with it. | 2nd |
| 1985 | OW81: Re-designed V-4 engine. Eddie Lawson won the rider's championship with it. | 2nd |
| 1986 | 1st | |
| 1987 | OW86: Improvements to the exhaust and cooling systems. | 1st |
| 1988 | OW98: A new exhaust layout of both pipes going under the engine and out the right side required an asymmetrical swingarm. Eddie Lawson won the rider's championship on it. | 1st |
| 1989 | OWA8: Introduction of a data-recording device. | 2nd |
| 1990 | OWC1: Wayne Rainey won his first rider's championship on it. | 1st |
| 1991 | OWD3: New regulation came into effect: the minimum weight would be 131 kg (for the 4 cylinders bikes). Yamaha used in this year first (and last) chip controlled suspension (CES). | 1st |
| 1992 | OWE0: In the latter-half of the season, Yamaha introduced their own "big-bang" firing order to the YZR500. Third championship for Wayne Rainey. | 2nd |
| 1993 | OWF2: An extruded aluminum frame was designed to resist flex from increased power output, though Wayne Rainey complains that it is too stiff, and in round 8 Rainey switches to a chassis used by Team ROC. | 1st |
| 1994 | OWF9: Re-design of the fairing and introduction of ram-air intake. | 3rd |
| 1995 | 3rd | |
| 1996 | OWJ1: New alloy for the engine and new design for the frame. | 2nd |
| 1997 | OWH0: The "V" was widened to allow a larger air box. The OWJ1 and OWH0 were developed simultaneously and used in reverse order during the season. | 2nd |
| 1998 | OWK1: Move to unleaded fuel. | 2nd |
| 1999 | 2nd | |
| 2000 | OWK6: General improvements to the engine, frame and cowl. | 1st |
| 2001 | OWL6 | 2nd |
| 2002 | OWL9: The 28th and last generation of the YZR500 had to compete against the newly allowed 4-stroke machines. | 2nd |
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