True to the series in general, Suikoden V boasts numerous characters. For Jeane, Viki, Leknaat, Georg Prime, Lorelai and Killey see Suikoden Recurring Characters.
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- Sun Palace (Royal Family and Queen's Knights)
- The Royal Family The Prince, Lymsleia, Arshtat, Ferid, Sialeeds, Haswar
- The Queen's Knights Lyon, Miakis, Kyle, Galleon, Alenia, Zahhak
- Major Groups (Barows, Godwins and the Dragon Cavalry)
- The Godwin Faction Marscal Godwin, Gizel Godwin, Rosalind Godwin, Childerich, Dolph, Bahram, Dilber
- House of Barows Salum Barows, Euram Barows, Luserina Barows, Alison Barows, Chuck, Boz, Norden
- The Dragon Cavalry and their allies Craig, Rahal, Roog, Nick, Flail, Lance, Ax, Yoran, Rania
- Miscellaneous Groups
- Lucretia and Agate Prison Lucretia, Lelei, Cius, Takamu, Zweig, Cathari
- Oboro Detective Agency Oboro, Fuyo, Shigure, Sagiri
- Lindwurm Mercenary Brigade Wilhelm, Mueller, Richard
- Babbage's Crew Babbage, Sorenson, Lu
- Ranrou Mountain Bandits Roy, Faylen, Faylon
- Maximillian Knights Isabel, Mathias
- Major Falenan Cities
- Lordlake Talgeyl, Goesch, Toma, Dr. Silva
- Stormfist Egbert Aethelbald, Shoon, Murad, Marina
- Raftfleet Raja, Lun, Logg, Kisara, Subala, Sairoh, Shinro, Retso, Shun Min
- Haud Village Josephine, Cornelio, Bastan
- Lelcar Wasil, Volga, Orok, Mohsen, Lord de Beers
- Sable Solis Raulbel, Dinn
- Hershville Haleth
- Demi-Humans (Beavers, Dwarves, Elves and Monsters)
- Beavers Fuwalafuwalu, Maroon, Meroon, Miroon, Moroon, Muroon
- Dwarves Gunde, Dongo, Wabon, Zunda, Bergen
- Elves Isato, Urda
- Monsters DoReMi Elves, Genoh, Byakuren
- Foreigner Nations
- New Armes Kingdom Shula, Sharmista, Nifsara, Maha, Jidan, Zegai, Gavaya, Nakula
- Island Nations Federation Skald, Bernadette, Yahr, Nelis, Chisato
- Zelant Norma, Ernst
- Kanakan and Katana Belcoot, Hazuki
- Others Zerase, Nikea, Linfa, Taylor, Hazuki, Raven, Alhazred, Eresh, Levi
