For the last two years, rumors have suggested publisher Rockstar was ready to show off the newest in the "numbered" series of GTA titles, but nothing has come to fruition yet.
But surely everyone knows it's just a matter of time before we start to hear something, and GameSpot reports the game will be in stores next year, claiming it heard from an inside source that development is "well under way."
GTA IV was seen as a huge advancement for the franchise becuse the technological capabilities on the PS3 and Xbox 360 hugely expanded what was possible. The result was an open-ended adventure that gamers were content to spend countless hours with, and never get bored.
Grand Theft Auto is, of course, known for its controversial yet highly addicting and critically acclaimed portrayal of seedy, crime-filled life.
Players are rewarded for participating in underground drug markets, having random sex, and inflicting violence on innocent citizens.
But beyond its notorious relationship with media and parent activist groups, the GTA series has gained commendations for its brilliant programming, amazing graphics, and open-ended environments.
GTA 5 will take that legacy even further, with Gamespot calling it "the big one" - players will be able to roam around a huge city with vast, sweeping environments that are beyond anything previously seen in the series.
Earlier rumors have suggested that unlike the fictional cities GTA has become known for, GTA 5 will take place in a digital version of Los Angeles.
GTA 4 was available for the PS3 and Xbox 360; it's assumed GTA 5 will be released on the same platforms and likely for the same $60 price tag.