In this work, the ERA5 reanalysis dataset, with its fine spatial and temporal resolution, is used to study the wind speed and direction characteristics in the Mediterranean basin from 1979 to 2020. Their variability, trend and mean values, as well as their association, are examined in the monthly, annual and interannual/decadal time scales. The long-term variability of the wind direction is assessed using the angular variance, while the mean annual and interannual variability are used for the wind speed. The most characteristic and constant flow systems appear in the Gulf of Lion (Mistral) and the Aegean Sea during the summer (Etesian winds). The mean annual variability maximizes in the northern part of the basin, while the western part appears to have the most variable wind directions, while the fastest increasing wind speeds appear in the southwestern Levantine sub-basin. The long-term linear trend for the mean, the 95th and 99th quantiles of annual wind speed and the number of occurrences of extreme wind events have been also assessed. For particular areas, there is an increasing tendency in both intensity and frequency of occurrence of extreme wind events. Τhe linear-circular correlation coefficient has been implemented in order to quantify the linear association between the wind direction and the wind speed. This parameter demonstrates higher annual values for the Mistral wind in the Gulf of Lion and the Etesian winds in the Aegean Sea during the summer. Finally, the comparison of the results of ERA5 with the results of ERA-Interim highlighted significant differences in the Mediterranean wind speed and direction characteristics.