SH 5 parallels US 75 along its length and runs alongside the former Houston and Texas Central rail line.

The current version of SH 5 was established on April 29, 1959 initially as a replacement for the former routing of U.S. Highway 75 from Richardson north to McKinney when US 75 was rebuilt further to the west.

Between 1987 and 2018, the southern terminus was moved northward as portions of the highway were returned to local cities: First, ending at SH 190 on May 28, 1986, then ending at the northern Plano city limit on October 28, 1987, at the Exchange Parkway in Allen on March 27, 2003, and finally, at FM 2786 (Stacy Rd.)

[3] From 1917 the routing mostly followed present day U.S. Highway 87 from New Mexico to Amarillo.

On February 5, 1918, an intercounty highway was designated from Estelline to Farwell.

This road was erroneously omitted from the March 19, 1930 log, so was unnumbered that day.

South of Dallas, US 75 was supplanted by Interstate 45, though US 75 retained its designation until 1987.