The performance of 21 Coupled Model Intercomparison Project Phase 5 (CMIP5) models in the simulation of the Indian Ocean Dipole (IOD) mode is evaluated. Compared to CMIP3, CMIP5 models exhibit a similar spread in IOD intensity. A detailed diagnosis was carried out to understand whether CMIP5 models have shown improvement in their representation of the important dynamical and thermodynamical feedbacks in the tropical Indian Ocean. These include the Bjerknes dynamic air-sea feedback, which includes the equatorial zonal wind response to sea surface temperature (SST) anomaly, the thermocline response to equatorial zonal wind forcing, the ocean subsurface temperature response to the thermocline variations, and the thermodynamic air-sea coupling that includes the wind-evaporation-SST and cloud-radiation-SST feedback. Compared to CMIP3, the CMIP5 ensemble produces a more realistic positive wind-evaporation-SST feedback during the IOD developing phase, while the simulation of Bjerknes dynamic feedback is more unrealistic especially with regard to the wind response to SST forcing and the thermocline response to surface wind forcing. The overall CMIP5 performance in the IOD simulation does not show remarkable improvements compared to CMIP3. It is further noted that the El Niño-Southern Oscillation (ENSO) and IOD amplitudes are closely related, if a model generates a strong ENSO, it is likely that this model also simulates a strong IOD.