The rusts and powdery mildew are major constraints to wheat production in temperate regions. Alien introgression lines combining linked genes are useful genetic resources for cultivar improvement, yet few resources with resistance to multiple diseases have been developed. Here, we describe a platform for rapid alien introgression from the grass Dasypyrum villosum into the wheat D genome and show that a T5DL.5VS introgression carries an all-stage powdery mildew resistance gene named Pm5V and an adult-plant stage stripe rust resistance gene named Yr5V. We flow-sorted and sequenced chromosome arm 5VS to genetically map the resistance genes, and confirmed that Pm5V is not allelic to the previously named Pm55 also on D. villosum 5VS and orthologous to Pm2 on wheat 5DS. Through map-based cloning, we found that Pm5V encodes a typical CC-NBS-LRR protein and confers resistance to a wide array of Bgt isolates. Soft and hard-grained T5DL.5VS introgressions conferring resistance to both powdery mildew and stripe rust in diverse wheat genetic backgrounds showed no yield penalty and provide a solution to identify the soft/hard-grained plants in segregation wheat populations early the breeding cycle. Our results highlight the potential utility of a Pm5V+Yr5V gene stack to accelerate breeding for improved disease resistance, high yield and good end-used quality.