The LVTP-5 (Landing Vehicle, Tracked Personnel) was the first post-war amphibious tractor designed for the US Marines, following the success of the LVT-1 and LVT-4 during the Pacific campaign as well as the subsequent Korean War. In contrast to its wartime predecessors, the LVTP-5 was considerably larger, capable of carrying up to 34 fully equipped marines on land (and 25 while on water). These could unload through a power-operated ramp in the rear, although two roof hatches were also available. A unique structural feature of the LVTP-5 was its inverted V-shaped hull, which allowed for improved amphibious navigation and stability. However, the vehicle suffered from mechanical issues when on the ground due to an unreliable suspension as well as vulnerability to landmines, something that was evidenced during its combat service in Vietnam. It was eventually replaced in US service with the LVTP-7 which had considerably superior performance on land. Export customers were few, and included only Chile, the Philippines and Taiwan.

Development of the LVTP-5 began shortly after the Korean War, and the vehicle entered production for the USMC in 1956. Structural modifications resulted in the LVTP-5A1, the only major variant of the basic amtrac vehicle. Other variants included the LVTC-5 command vehicle, LVTE-1 engineer vehicle, LVTH-6 howitzer, and LVTR-1 recovery vehicle. Units used by the Philippine marines have had further modernizations to keep them operational into the 21st century.