The first Model 560 prototype, a stretched version of the Citation S/II, flew in August 1987 and was certified on December 9, 1988.

Cessna also replaced the fluid deicing system of the S/II with improved pneumatic deicing boots for decreased weight and easier maintenance, and the horizontal stabilizer span was increased slightly to compensate for the increased engine thrust.

The Citation V was announced at the NBAA convention later that year, Federal Aviation Administration (FAA) certification was granted on December 9, 1988, and 262 were delivered between April 1989 and mid 1994.

[3] The upgraded Citation V Ultra was announced in September 1993 and FAA certification was granted in June 1994.

It features extensively redesigned JT15D-5D engines with new compressors, high-pressure turbines, and a one-piece solid machined fan disks, increasing thrust to 3,045 lbf (13.54 kN) while reducing fuel consumption and weight; consequently, the Ultra was the first straight winged Citation with sufficient performance to exceed its critical Mach number in level flight.

[8] The captain's side EFIS of the Citation V was upgraded to a full Honeywell Primus 1000 glass cockpit for both pilots.

[10] The Citation Ultra Encore was announced at the 1998 NBAA convention, upgraded with new PW535 engines, plus trailing link main undercarriage, more fuel capacity, updated interior and improved systems.

The Encore+ adds FADEC and Rockwell Collins Pro Line 21 avionics with a center MFD and both side PFDs.

It can take off in 3,520 ft (1,070 m) in ISA conditions, has good hot-and-high performance and climbs directly to FL 450 in 27 min.

[3] The later Model 560 variants are the fastest and farthest flying jets with the type certificate of the original Citation 500.

The improved PW535 high altitude thrust allow the Encore to climb faster and cruise higher.

Data from Business & commercial aviation,[29] Brassey's World Aircraft & Systems Directory 1999–2000 [30]General characteristics Performance