Starches are glucose storage compounds in plants and are made up of relatively linear amylose and the heavily branched amylopectin. Starch can be classified into three categories, namely Rapidly Digestible Starch (RDS), Slowly Digestible Starch (SDS), and Resistant Starch (RS). Amylose‐lipid complex (ALC) is a recent addition to the RS category as RS type 5 (RS‐5) due to its resistance to enzymatic hydrolysis. The enzymatic resistance of ALC depends on the lipid's molecular structure and the crystalline morphology of the helices. Naturally, present lipids in high amylase‐containing raw plant‐based foods or added lipids can form the ALC during gelatinization or other processing steps. Thermal stability and ease of production with numerous health benefits makes it suitable for research and industrial application. This review focuses on the recent developments in structural characteristics, production methodologies of RS‐5, and its application in food and medical industries. This review will provide a comprehensive overview to the readers about the production and current research development in RS‐5 and will helpful to distil this information to design desired future research studies on RS‐5.