There are various types of magic in Final Fantasy V. There is the standard White and Black magic, as well as the introduction of Time, and Spellblade magic. In the GBA version, there is also Dark Arts magic.

Level 1			Level 2
Spell	MP	Description	Spell	MP	Description
Cure	4	Restores some HP to ally(ies)	Silence	2	Silences target
Libra	1	View enemy stats	Protect	3	Raises Physical defense
Poisona	2	Cures Poison	Mini	5	Casts/cures Mini
Level 3			Level 4
Cura	9	Restores more HP to ally(ies)	Blink	6	Raises Physical defense
Raise	29	Revive fallen ally with some HP	Shell	5	Raises magical defense
Confuse	4	Confuses target into attacking allies	Esuna	10	Cures most status ailments
Level 5			Level 6
Curaga	27	Restores full HP to one, Large amount of HP to all	Arise	50	Revive fallen ally with full HP
Reflect	15	Bounce spells back at caster	Dispel	12	Remove magical effects
Berserk	8	Increase damage, losing control of target	Holy	20	Supreme White Magic attack

Level 1			Level 2
SPELL	MP	Description	SPELL	MP	Description
Fire	4	Low level fire damage	Poison	2	Gradual Hp reduction
Blizzard	4	Low level ice damage	Sleep	3	Puts target to sleep
Thunder	4	Low level lightning damage	Toad	8	Casts/cures Toad status
Level 3			Level 4
Fira	10	Mid level fire damage	Drain	13	Transfers HP from target to caster
Blizzara	10	Mid level ice damage	Break	15	Turns target into stone
Thundara	10	Mid level lightning damage	Bio	16	Rapid HP reduction
Level 5			Level 6
Firaga	25	High level fire damage	Death	29	Attempts to KO target
Blizzaga	25	High level ice damage	Osmose	1	Transfers MP from target to caster
Thundaga	25	High level lightning damage	Flare	39	Supreme Black Magic attack

Level 1			Level 2
SPELL	MP	Description	SPELL	MP	Description
Speed	1	Increase battle speed	Mute	3	Silences target
Slow	3	Slows time between attacks	Haste	5	Increases time between attacks
Regen	3	Gradually recover HP	Float	10	Float above the floor. Negates earth attacks
Level 3			Level 4
Gravity	9	Reduce targets total HP by 1/2	Comet	7	Falling meteors damage enemy
Stop	8	Stops targets actions	Slowga	9	Slows attack time of all enemies
Teleport	15	Warp out of dungeons and battles	Return	1	Restarts current battle
Level 5			Level 6
Graviga	18	Reduce targets total HP by 3/4	Quick	77	Use two commands in one turn
Hastega	15	Increase entire party's attack time	Banish	20	Send target to the N-Zone (KO)
Old	4	Decrease ability effectiveness	Meteor	42	Ultimate Time Magic attack

Level 1			Level 2
SPELL	MP	Description	SPELL	MP	Description
Fire	2	Low level fire sword	Poison	1	Poisons target with hit
Blizzard	2	Low level ice sword	Silence	1	Mutes target with hit
Thunder	2	Low level lightning sword	Sleep	2	Puts target to sleep with hit
Level 3			Level 4
Fira	5	Mid level fire sword	Drain	6	Steals target's HP with hit
Blizzara	5	Mid level ice sword	Break	8	Turns enemy to stone with hit
Thundara	5	Mid level lightning sword	Bio	3	Casts Bio with hit
Level 5			Level 6
Firaga	15	High level fire sword	Holy	10	Divine energy attack
Blizzaga	15	High level ice sword	Flare	30	Nuclear fire attack
Thundaga	15	High level lightning sword	Osmose	1	Steals target's MP with hit

Level 1			Level 2
SPELL	MP	Description	SPELL	MP	Description
Drain Touch	15	Transfers HP from target to caster	Deep Freeze	38	75% chance of casting Stop
Dark Haze	18	Casts Old and Confuse	Evil Mist	38	75% chances of casting Poison
Level 3			Level 4
Hellwind	38	75% chance of casting Break	Chaos Drive	38	75% chance of causing Paralysis
Meltdown	38	75% chance of cusing Sap	Curse	42	Causes all status ailments
Level 5
Dark Flare	52	Attacks all enemies
Doomsday	66	Attacks all enemies