Two ministers of his father, Agathocles and Sosibius, murdered his mother Arsinoe III securing the regency for themselves.
In 202 BC. however Tlepolemus, the general in charge of Pelusium, headed a revolt which ended with Agathocles killed
During this crisis, the Seleucid king Antiochus III the Great and Philip V of Macedonia decided to attack the Ptolemaic empire and divide the booty.
Upper Egypt achieved total independence under a series of native Pharaohs,
depriving the Pharaoh of substantial revenues, and resulted in an increased army of mercenaries to fend off the rebels.
In 197 BC., to settle civil problems, the young twelve years prince was crowned at the old capital of Memphis.
This was the first time that a Ptolemy had been crowned in Memphis with traditional egyptian rites
and the decrees issues for the occasion were copied and sent out.
One of these Decrees of Memphis was discovered in 1799 and is known as the Rosetta Stone.
Ptolemy V is uniquely associated with the famed Rosetta Stone,
which allowed the world to finally understand the hieroglyphs
In 195 BC. a peace treaty was signed with the Seleucid ruler, Egypt lost Coele Syria and all oversea possessions, except for Cyprus.
Ptolemy V married the daughter of Antiochus III, Cleopatra I.
He added some elements of decoration to the Esna Temple
He died by poisoning, at the age of twenty-eight in 180 BC.