We organize and present the 5th version of the International Workshop on Web-scale Knowledge Representation, Retrieval and Reasoning (Web-KR 2014) as a continuous effort to discuss and provide possible theories and techniques to deal with the barriers for knowledge processing at Web scale. This workshop was held in conjunction with the 2014 ACM International Conference on Information and Knowledge Management (CIKM 2014) on November 3rd, 2014 in Shanghai, China. Compared to previous workshops under the same title, accepted papers of this workshop cover even wider topics in the field. The contributions focus on semantic knowledge extraction, representation, knowledge clustering, inconsistency checking, entity relatedness and linking, query suggestions, etc. Many new approaches are proposed to investigate these topics in the context of Web-scale resources. This summary introduces the major contributions of accepted papers in the Web-KR 2014 workshop.