The 5th Hong Kong Awards ceremony, honored the best films of 1985 and took place on 6 April 1986, at the Regent International Hotel, Hong Kong.

The ceremony was hosted by Winnie Yu, during the ceremony awards are presented in 15 categories.

The ceremony was sponsored by City Entertainment Magazine.

Winners are listed first, highlighted in boldface, and indicated with a double dagger (‡).

[5] The first and only recipient was Kent Cheng for his role in the 1985 drama Why Me.