<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with the Workiva Platform-->
<!--Copyright 2026 Workiva-->
<!--r:019e47f8-79c1-73ea-b57e-3571d41fdb3c,g:473fbba6-f960-4e67-be64-91f9c52b03a3-->
<xs:schema xmlns:xs="http://www.w3.org/2001/XMLSchema" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:five="http://www.fivebelow.com/20260502" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2024-01-31" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" attributeFormDefault="unqualified" elementFormDefault="qualified" targetNamespace="http://www.fivebelow.com/20260502">
  <xs:import namespace="http://fasb.org/srt/2025" schemaLocation="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd"/>
  <xs:import namespace="http://fasb.org/us-gaap/2025" schemaLocation="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd"/>
  <xs:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd"/>
  <xs:import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd"/>
  <xs:import namespace="http://www.xbrl.org/dtr/type/2024-01-31" schemaLocation="https://www.xbrl.org/dtr/type/2024-01-31/types.xsd"/>
  <xs:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd"/>
  <xs:import namespace="http://xbrl.sec.gov/dei/2025" schemaLocation="https://xbrl.sec.gov/dei/2025/dei-2025.xsd"/>
  <xs:import namespace="http://xbrl.sec.gov/ecd/2025" schemaLocation="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd"/>
  <xs:annotation>
    <xs:appinfo>
      <link:linkbaseRef xmlns:xlink="http://www.w3.org/1999/xlink" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="five-20260502_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:type="simple"/>
      <link:linkbaseRef xmlns:xlink="http://www.w3.org/1999/xlink" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="five-20260502_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:type="simple"/>
      <link:linkbaseRef xmlns:xlink="http://www.w3.org/1999/xlink" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="five-20260502_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:type="simple"/>
      <link:linkbaseRef xmlns:xlink="http://www.w3.org/1999/xlink" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="five-20260502_cal.xml" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:type="simple"/>
      <link:roleType id="DocumentandEntityInformation" roleURI="http://www.fivebelow.com/role/DocumentandEntityInformation">
        <link:definition>0000001 - Document - Document and Entity Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedBalanceSheets" roleURI="http://www.fivebelow.com/role/ConsolidatedBalanceSheets">
        <link:definition>9952151 - Statement - Consolidated Balance Sheets</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedBalanceSheetsParenthetical" roleURI="http://www.fivebelow.com/role/ConsolidatedBalanceSheetsParenthetical">
        <link:definition>9952152 - Statement - Consolidated Balance Sheets (Parenthetical)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedStatementsofOperations" roleURI="http://www.fivebelow.com/role/ConsolidatedStatementsofOperations">
        <link:definition>9952153 - Statement - Consolidated Statements of Operations</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedStatementofShareholdersEquity" roleURI="http://www.fivebelow.com/role/ConsolidatedStatementofShareholdersEquity">
        <link:definition>9952154 - Statement - Consolidated Statement of Shareholders' Equity</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedStatementsofCashFlows" roleURI="http://www.fivebelow.com/role/ConsolidatedStatementsofCashFlows">
        <link:definition>9952155 - Statement - Consolidated Statements of Cash Flows</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryofSignificantAccountingPolicies" roleURI="http://www.fivebelow.com/role/SummaryofSignificantAccountingPolicies">
        <link:definition>9952156 - Disclosure - Summary of Significant Accounting Policies</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RevenuefromContractsWithCustomers" roleURI="http://www.fivebelow.com/role/RevenuefromContractsWithCustomers">
        <link:definition>9952157 - Disclosure - Revenue from Contracts With Customers</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="Leases" roleURI="http://www.fivebelow.com/role/Leases">
        <link:definition>9952158 - Disclosure - Leases</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomePerCommonShare" roleURI="http://www.fivebelow.com/role/IncomePerCommonShare">
        <link:definition>9952159 - Disclosure - Income Per Common Share</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LineofCredit" roleURI="http://www.fivebelow.com/role/LineofCredit">
        <link:definition>9952160 - Disclosure - Line of Credit</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="CommitmentsandContingencies" roleURI="http://www.fivebelow.com/role/CommitmentsandContingencies">
        <link:definition>9952161 - Disclosure - Commitments and Contingencies</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ShareBasedCompensation" roleURI="http://www.fivebelow.com/role/ShareBasedCompensation">
        <link:definition>9952162 - Disclosure - Share-Based Compensation</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxes" roleURI="http://www.fivebelow.com/role/IncomeTaxes">
        <link:definition>9952163 - Disclosure - Income Taxes</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SegmentReporting" roleURI="http://www.fivebelow.com/role/SegmentReporting">
        <link:definition>9952164 - Disclosure - Segment Reporting</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryofSignificantAccountingPoliciesPolicies" roleURI="http://www.fivebelow.com/role/SummaryofSignificantAccountingPoliciesPolicies">
        <link:definition>9955511 - Disclosure - Summary of Significant Accounting Policies (Policies)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryofSignificantAccountingPoliciesTables" roleURI="http://www.fivebelow.com/role/SummaryofSignificantAccountingPoliciesTables">
        <link:definition>9955512 - Disclosure - Summary of Significant Accounting Policies (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RevenuefromContractsWithCustomersTables" roleURI="http://www.fivebelow.com/role/RevenuefromContractsWithCustomersTables">
        <link:definition>9955513 - Disclosure - Revenue from Contracts With Customers (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LeasesTables" roleURI="http://www.fivebelow.com/role/LeasesTables">
        <link:definition>9955514 - Disclosure - Leases (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomePerCommonShareTables" roleURI="http://www.fivebelow.com/role/IncomePerCommonShareTables">
        <link:definition>9955515 - Disclosure - Income Per Common Share (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ShareBasedCompensationTables" roleURI="http://www.fivebelow.com/role/ShareBasedCompensationTables">
        <link:definition>9955516 - Disclosure - Share-Based Compensation (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxesTables" roleURI="http://www.fivebelow.com/role/IncomeTaxesTables">
        <link:definition>9955517 - Disclosure - Income Taxes (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SegmentReportingTables" roleURI="http://www.fivebelow.com/role/SegmentReportingTables">
        <link:definition>9955518 - Disclosure - Segment Reporting (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryofSignificantAccountingPoliciesNatureofbusinessDetails" roleURI="http://www.fivebelow.com/role/SummaryofSignificantAccountingPoliciesNatureofbusinessDetails">
        <link:definition>9955519 - Disclosure - Summary of Significant Accounting Policies - Nature of business (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryofSignificantAccountingPoliciesFairvalueoffinancialinstrumentsDetails" roleURI="http://www.fivebelow.com/role/SummaryofSignificantAccountingPoliciesFairvalueoffinancialinstrumentsDetails">
        <link:definition>9955520 - Disclosure - Summary of Significant Accounting Policies - Fair value of financial instruments (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryofSignificantAccountingPoliciesDetails" roleURI="http://www.fivebelow.com/role/SummaryofSignificantAccountingPoliciesDetails">
        <link:definition>9955521 - Disclosure - Summary of Significant Accounting Policies (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryofSignificantAccountingPoliciesPrepaidexpensesandothercurrentassetsDetails" roleURI="http://www.fivebelow.com/role/SummaryofSignificantAccountingPoliciesPrepaidexpensesandothercurrentassetsDetails">
        <link:definition>9955522 - Disclosure - Summary of Significant Accounting Policies - Prepaid expenses and other current assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryofSignificantAccountingPoliciesOtheraccruedexpensesDetails" roleURI="http://www.fivebelow.com/role/SummaryofSignificantAccountingPoliciesOtheraccruedexpensesDetails">
        <link:definition>9955523 - Disclosure - Summary of Significant Accounting Policies - Other accrued expenses (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryofSignificantAccountingPoliciesSupplyChainFinanceDetails" roleURI="http://www.fivebelow.com/role/SummaryofSignificantAccountingPoliciesSupplyChainFinanceDetails">
        <link:definition>9955524 - Disclosure - Summary of Significant Accounting Policies - Supply Chain Finance (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RevenuefromContractsWithCustomersDetails" roleURI="http://www.fivebelow.com/role/RevenuefromContractsWithCustomersDetails">
        <link:definition>9955525 - Disclosure - Revenue from Contracts With Customers (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LeasesNarrativeDetails" roleURI="http://www.fivebelow.com/role/LeasesNarrativeDetails">
        <link:definition>9955526 - Disclosure - Leases - Narrative (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LeasesComponentsofnetleasecostDetails" roleURI="http://www.fivebelow.com/role/LeasesComponentsofnetleasecostDetails">
        <link:definition>9955527 - Disclosure - Leases - Components of net lease cost (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LeasesMaturityofleaseliabilitiesunderoperatingleasesDetails" roleURI="http://www.fivebelow.com/role/LeasesMaturityofleaseliabilitiesunderoperatingleasesDetails">
        <link:definition>9955528 - Disclosure - Leases - Maturity of lease liabilities under operating leases (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LeasesMaturityofleaseliabilitiesunderoperatingleasesDetails_1" roleURI="http://www.fivebelow.com/role/LeasesMaturityofleaseliabilitiesunderoperatingleasesDetails_1">
        <link:definition>9955528 - Disclosure - Leases - Maturity of lease liabilities under operating leases (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LeasesSupplementalcashflowinformationDetails" roleURI="http://www.fivebelow.com/role/LeasesSupplementalcashflowinformationDetails">
        <link:definition>9955529 - Disclosure - Leases - Supplemental cash flow information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomePerCommonShareComputationsofbasicanddilutedincomelosspershareDetails" roleURI="http://www.fivebelow.com/role/IncomePerCommonShareComputationsofbasicanddilutedincomelosspershareDetails">
        <link:definition>9955530 - Disclosure - Income Per Common Share - Computations of basic and diluted income (loss) per share (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomePerCommonShareNarrativeDetails" roleURI="http://www.fivebelow.com/role/IncomePerCommonShareNarrativeDetails">
        <link:definition>9955531 - Disclosure - Income Per Common Share - Narrative (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LineofCreditDetails" roleURI="http://www.fivebelow.com/role/LineofCreditDetails">
        <link:definition>9955532 - Disclosure - Line of Credit (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="CommitmentsandContingenciesDetails" roleURI="http://www.fivebelow.com/role/CommitmentsandContingenciesDetails">
        <link:definition>9955533 - Disclosure - Commitments and Contingencies (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ShareBasedCompensation2002EquityincentiveplanDetails" roleURI="http://www.fivebelow.com/role/ShareBasedCompensation2002EquityincentiveplanDetails">
        <link:definition>9955534 - Disclosure - Share-Based Compensation - 2002 Equity incentive plan (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ShareBasedCompensationScheduleofstockoptionactivityunderplanDetails" roleURI="http://www.fivebelow.com/role/ShareBasedCompensationScheduleofstockoptionactivityunderplanDetails">
        <link:definition>9955535 - Disclosure - Share-Based Compensation - Schedule of stock option activity under plan (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ShareBasedCompensationSharebasedcompensationvaluationofstockoptionsDetails" roleURI="http://www.fivebelow.com/role/ShareBasedCompensationSharebasedcompensationvaluationofstockoptionsDetails">
        <link:definition>9955536 - Disclosure - Share-Based Compensation - Share-based compensation valuation of stock options (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ShareBasedCompensationRestrictedstockunitsandperformancebasedrestrictedstockunitsDetails" roleURI="http://www.fivebelow.com/role/ShareBasedCompensationRestrictedstockunitsandperformancebasedrestrictedstockunitsDetails">
        <link:definition>9955537 - Disclosure - Share-Based Compensation - Restricted stock units and performance-based restricted stock units (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ShareBasedCompensationSharerepurchaseprogramDetails" roleURI="http://www.fivebelow.com/role/ShareBasedCompensationSharerepurchaseprogramDetails">
        <link:definition>9955538 - Disclosure - Share-Based Compensation - Share repurchase program (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxesScheduleofeffectiveincometaxratereconciliationDetails" roleURI="http://www.fivebelow.com/role/IncomeTaxesScheduleofeffectiveincometaxratereconciliationDetails">
        <link:definition>9955539 - Disclosure - Income Taxes - Schedule of effective income tax rate reconciliation (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxesNarrativeDetails" roleURI="http://www.fivebelow.com/role/IncomeTaxesNarrativeDetails">
        <link:definition>9955540 - Disclosure - Income Taxes - Narrative (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SegmentReportingNarrativeDetails" roleURI="http://www.fivebelow.com/role/SegmentReportingNarrativeDetails">
        <link:definition>9955541 - Disclosure - Segment Reporting - Narrative (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SegmentReportingScheduleofsegmentprofitandlossDetails" roleURI="http://www.fivebelow.com/role/SegmentReportingScheduleofsegmentprofitandlossDetails">
        <link:definition>9955542 - Disclosure - Segment Reporting - Schedule of segment profit and loss (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
    </xs:appinfo>
  </xs:annotation>
  <xs:element id="five_DeferredRentCreditAndOtherNoncurrent" abstract="false" name="DeferredRentCreditAndOtherNoncurrent" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="five_UnrestrictedstockMember" abstract="true" name="UnrestrictedstockMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="five_CommonSharesWithheldForTaxes" abstract="false" name="CommonSharesWithheldForTaxes" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:sharesItemType"/>
  <xs:element id="five_CommonSharesWithheld" abstract="false" name="CommonSharesWithheld" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="five_IncreaseDecreaseInOperatingLeases" abstract="false" name="IncreaseDecreaseInOperatingLeases" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="five_IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid" abstract="false" name="IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="five_NatureOfBusinessPolicyTextBlock" abstract="false" name="NatureOfBusinessPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:textBlockItemType"/>
  <xs:element id="five_DeferredCompensationPolicyTextBlock" abstract="false" name="DeferredCompensationPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:textBlockItemType"/>
  <xs:element id="five_SupplierFinanceProgramPolicyPolicyTextBlock" abstract="false" name="SupplierFinanceProgramPolicyPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:textBlockItemType"/>
  <xs:element id="five_ProductsOfferingPrice" abstract="false" name="ProductsOfferingPrice" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="five_NumberOfCompanyOperatedStores" abstract="false" name="NumberOfCompanyOperatedStores" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:decimalItemType"/>
  <xs:element id="five_DeferredCompensationArrangementWithIndividualPercentOfEligibleCompensation" abstract="false" name="DeferredCompensationArrangementWithIndividualPercentOfEligibleCompensation" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="five_SignificantAccountingPoliciesTable" abstract="true" name="SignificantAccountingPoliciesTable" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType"/>
  <xs:element id="five_SignificantAccountingPoliciesLineItems" abstract="true" name="SignificantAccountingPoliciesLineItems" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="five_CashEquivalents" abstract="false" name="CashEquivalents" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="five_LeisureMember" abstract="true" name="LeisureMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="five_FashionAndHomeMember" abstract="true" name="FashionAndHomeMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="five_PartyAndSnackMember" abstract="true" name="PartyAndSnackMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="five_NetSalesAsPercentageOfNetSales" abstract="false" name="NetSalesAsPercentageOfNetSales" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="five_NumberOfLeases" abstract="false" name="NumberOfLeases" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="five_LesseeOperatingLeaseLiabilityToBePaidAfterYearFour" abstract="false" name="LesseeOperatingLeaseLiabilityToBePaidAfterYearFour" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="five_NumeratorAbstract" abstract="true" name="NumeratorAbstract" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="five_DenominatorAbstract" abstract="true" name="DenominatorAbstract" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="five_AmendedRevolvingCreditFacilityMember" abstract="true" name="AmendedRevolvingCreditFacilityMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="five_LineOfCreditFacilityAccordionFeatureIncreaseLimit" abstract="false" name="LineOfCreditFacilityAccordionFeatureIncreaseLimit" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="five_LineOfCreditFacilityMaximumAllowedToBeBorrowedBasedOnAvailableCashBalance" abstract="false" name="LineOfCreditFacilityMaximumAllowedToBeBorrowedBasedOnAvailableCashBalance" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="five_MinimumAvailabilityOfAggregateCommitmentsAndLoanCapRequiredPercent" abstract="false" name="MinimumAvailabilityOfAggregateCommitmentsAndLoanCapRequiredPercent" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="five_MinimumAvailabilityOfLoanCapAfterStepdownDateRequiredPercent" abstract="false" name="MinimumAvailabilityOfLoanCapAfterStepdownDateRequiredPercent" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="five_MinimumAvailabilityOfAggregateCommitmentsAndLoanCapRequiredInEventOfDefaultOrAvailabilityPercent" abstract="false" name="MinimumAvailabilityOfAggregateCommitmentsAndLoanCapRequiredInEventOfDefaultOrAvailabilityPercent" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="five_PeriodRequiredForAvailabilityOfLoanCapRequirement" abstract="false" name="PeriodRequiredForAvailabilityOfLoanCapRequirement" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="five_TwoThousandTwentyTwoEquityIncentivePlanMember" abstract="true" name="TwoThousandTwentyTwoEquityIncentivePlanMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="five_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndNonOptionEquityInstrumentsOutstandingNumber" abstract="false" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndNonOptionEquityInstrumentsOutstandingNumber" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:sharesItemType"/>
  <xs:element id="five_StockOptionMaximumTerm" abstract="false" name="StockOptionMaximumTerm" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="five_StockOptionVestingPeriod" abstract="false" name="StockOptionVestingPeriod" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="five_PerformanceBasedRestrictedStockUnitsBasedOnMarketConditionMember" abstract="true" name="PerformanceBasedRestrictedStockUnitsBasedOnMarketConditionMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="five_PerformanceRestrictedStockUnitsMember" abstract="true" name="PerformanceRestrictedStockUnitsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="five_RestrictedStockUnitsAndPerformanceBasedRestrictedStockUnitsMember" abstract="true" name="RestrictedStockUnitsAndPerformanceBasedRestrictedStockUnitsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="five_IncomeTaxTable" abstract="true" name="IncomeTaxTable" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType"/>
  <xs:element id="five_IncomeTaxLineItems" abstract="true" name="IncomeTaxLineItems" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="five_AccrualForUncertainTaxInterestOrPenalties" abstract="false" name="AccrualForUncertainTaxInterestOrPenalties" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="five_StateIncomeTaxesStatuteOfLimitationsPeriod" abstract="false" name="StateIncomeTaxesStatuteOfLimitationsPeriod" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="five_ReportableSegmentMember" abstract="true" name="ReportableSegmentMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
</xs:schema>
