The following are known Action Replay Codes for Mega Man V on Nintendo Game Boy / Color (GB / GBC). These codes were also known as GameShark Codes and in most cases will work on both devices.

Device Compatibility: Action Replay & GameShark

Infinite Energy
01989ede

Infinite JU
0198a7de

Infinite Lives
010334df

Infinite MA
0198a2de

Infinite ME
0198a0de

Infinite NE
0198a3de

Infinite PCs
01c83ddf

Infinite PL
0198a9de

Infinite RC
01989fde

Infinite RJ
0198a6de

Infinite SA
0198a8de

Infinite TA
0198a4de

Infinite UR
0198aade

Infinite VE
01a0a1de