Chapter 5, ''Dread'' / ''Prey'' takes place roughly before six hours until dawn. The player takes control of Mike as he ventures around the Sanatorium, Matt, as he and Emily make their way to go get help at the fire tower, and Sam as she is being chased in the lodge by The Psycho.
- Chapter 5 was the first gameplay shown of Until Dawn and was featured at Gamescom 2014.
- Chapter 5 only has half of the 8 protagonists appearing, the least of any chapter.
- This chapter has a total of 22 collectibles able to be found.
- The name of this chapter depends on the fate of Jessica in the Chapter 4 chase scene.
- The title Dread is obtained by catching up to Jessica in time, leading to her survival.
- The title Prey is obtained by taking too much time chasing Jessica, leading to her demise.