Puppet Master 5 is a 1994 direct-to-video horror film written by Charles Band among others, and directed by Jeff Burr. It is the fifth film in the Puppet Master franchise, the sequel to 1993's Puppet Master 4, and stars Gordon Currie as the series' third Puppet Master, and Ian Ogilvy, his colleague, whose attempts to salvage the animated puppets of André Toulon (Guy Rolfe) from the Bodega Bay Inn are foiled by a demon.

As in the previous film, the puppets serve as protagonists, rather than terrorize as they had in the first and second films. As the subtitle indicates, Puppet Master 5 was intended to be the final installment. However, in 1998, a sixth, Curse of the Puppet Master, was released, and the series has been ongoing since.