•5G breeding approach brings precision and enhances efficiency in breeding programs.•Genome, germplasm, gene function, genomic breeding and genome editing are the 5Gs.•NGS platforms, speed breeding and express edit facility are the key drivers for 5G breeding.•Haplotype-based breeding, genomic selection and gene editing are the key genomic breeding approaches of the future.•Multi-disciplinary team of scientists need to be trained to deploy 5G breeding in developing countries. Here we propose a 5G breeding approach for bringing much-needed disruptive changes to crop improvement. These 5Gs are Genome assembly, Germplasm characterization, Gene function identification, Genomic breeding (GB), and Gene editing (GE). In our view, it is important to have genome assemblies available for each crop and a deep collection of germplasm characterized at sequencing and agronomic levels for identification of marker-trait associations and superior haplotypes. Systems biology and sequencing-based mapping approaches can be used to identify genes involved in pathways leading to the expression of a trait, thereby providing diagnostic markers for target traits. These genes, markers, haplotypes, and genome-wide sequencing data may be utilized in GB and GE methodologies in combination with a rapid cycle breeding strategy.