Former Prime Ministers PV Narasimha Rao and Chaudhary Charan Singh, alongside agricultural scientist MS Swaminathan, will be conferred the Bharat Ratna.
Earlier, former Bihar chief minister Karpoori Thakur, and former deputy prime minister Lal Krishna Advani were announced to be conferred with India's highest civilian honour.
This year's five recipients surpass the four awarded in 1999, marking the highest number of Bharat Ratnas awarded in a single year.
Advani served as both the home minister and deputy Prime Minister under the leadership of Atal Bihari Vajpayee from 1999 to 2004.
PV Narasimha Rao, a Telugu leader, served a full five-year term as prime minister from 1991 to 1996.
He is widely lauded for his pivotal role in introducing economic reforms.
Mankombu Sambasivan Swaminathan is known for his significant contributions to agriculture and the welfare of farmers.