The book "Formal Modeling and Analysis of Timed Systems" documents the proceedings of the fifth International Conference on Formal Models and Analysis of Timed Systems (FORMATS 2007). This conference brought together researchers from various disciplines who are concerned with the temporal aspects of computer systems. The volume addresses both fundamental and practical aspects of timed systems and encourages reporting on new application areas. In addition to the conference contributions, invited talks were also presented, highlighting different facets of this broad research field. FORMATS 2007 took place as part of the Embedded Systems Week in Salzburg, an event that included numerous conferences, tutorials, and workshops on various topics in embedded system research and development.