Police say a series of increasingly violent home invasions occurred in the Yonge Street and Sheppard Avenue area between December and February.
It is alleged that victims were assaulted and had guns pointed at them during the incidents.
At 5:50 a.m. on Monday, police arrested the five accused, all of whom were due to appear in court in the afternoon.
Police say a 19-year old man, two 18-year-old men, as well as a 15-year-old male and a 17-year-old male, face 22 charges in total.
The allegations have not been proven in court.