The open-world action game will be available for Xbox 360 and PS3 from September 17.
Copyright: Rockstar GamesThe game, which was originally scheduled to launch this spring, has been delayed to give Rockstar North additional development time.
In a statement, Rockstar founder Sam Houser said that the firm would showcase the game in the coming months, but failed to mention the recently-rumoured PC port.
"Grand Theft Auto V continues to push the series forward in new ways; Rockstar North are creating our deepest, most beautiful and most immersive world yet," Houser explained.
"We are very excited for people to learn more about the game in the coming months," he added.
Announced in October 2011, Grand Theft Auto 5 will take place in Los Santos, which is loosely based on present-day Southern California.
The game features three protagonists - Trevor, Franklin and Michael - who all have their own personality, skill set and social circles to interact with that contribute to the game's overall story.
Watch the Grand Theft Auto 5 announcement trailer below: