This study assessed the capability of the historical simulations of phase 5 and 6 of the Coupled Model Intercomparison Project (CMIP5/6) in reproducing the temporal and spatial characteristics of the Interdecadal Pacific Oscillation (IPO) and its impact on global surface air temperature (SAT), surface equivalent potential temperature (Thetae_sfc) and precipitation. The IPO index time series simulated by CMIP5/6 models deviated from observations and struggled to capture the phase evolution characteristics of the IPO. Nevertheless, CMIP5/6 models successfully captured the horseshoe‐shaped sea surface temperature anomaly in the Pacific. Additionally, the CMIP5/6 models were able to simulate the IPO's 10–30‐year period. Notably, the simulated IPO index exhibited a statistically significant upward trend, which was absent in observations. Additionally, the IPO‐related global land SAT, Thetae_sfc and precipitation simulated by CMIP5/6 models performed differently in boreal winter and boreal summer. Furthermore, the IPO‐related global land SAT performed better in CMIP5/6 models during boreal winter than that in boreal summer. In CMIP6 models, it improved during both boreal winter and summer compared to CMIP5 models. In terms of the IPO‐related global land Thetae_sfc, CMIP5/6 models also performed better during boreal winter than in boreal summer. However, CMIP5 models outperformed CMIP6 models during the boreal summer. In terms of the IPO‐related global land precipitation, CMIP5/6 models performed better during boreal summer compared to boreal winter. Moreover, the IPO‐related global land precipitation in CMIP6 models improved significantly in boreal winter, but almost the same in boreal summer, compared to CMIP5 models. Further studies showed that the enhancements in simulating IPO's spatial pattern did not correspond to improvements in the model's ability to simulate IPO's global teleconnections.