The energy, electronic structure, and magnetic and mechanical properties of LaNi 5 compound have been studied by the first-principles method based on the density functional theory. The results show that the calculated lattice parameters of LaNi 5 compound are almost the same with the experimental ones, and the compound is easy to form and very stable. The bond between La and Ni1 atoms is an ionic bond, and electrostatic attraction effect exists between Ni atoms. The farther the distance between Ni atoms in the LaNi 5 crystal cell is, the stronger the electrostatic attraction effect is. LaNi 5 intermetallic compound is ductile and ferromagnetic. The calculated hardness value of LaNi 5 compound is 7.04 GPa, and the calculated elastic properties are close to the experimental results.