Nowadays the study of Aurivillius phases is associated with a wide area of their application in modern equipment. In recent years, these materials are being actively studied in order to create multiferroics. The compound Bi5FeTi3O15 is among the commonly investigated types of Aurivillius phases. However, its properties can be improved. Several factors influence the properties of this Aurivillius phase. The most important of them are listed further. Firstly, substitutions of Bi (III) or Ti (IV) ions in the structure of Bi5FeTi3O15 significantly affect the phase formation, electrical and physical characteristics of ceramics, as well as their thermal stability and Curie temperature. Secondly, the type of synthesis and annealing is also plays a key role in formation of pure phases. Therefore, the aim of this article is to review various literature sources and to reveal consistent patterns in changing properties of Bi5FeTi3O15-based substances and determine the possible objects for the further study.