The 1970 Guards European Formula 5000 Championship was a motor racing competition for Formula 5000 cars. The series was organized in the United Kingdom by the British Racing and Sports Car Club but also included European rounds. It was the first and only series to carry the Guards European Formula 5000 Championship name and the second of seven annual European Formula 5000 Championships to be contested between 1969 and 1975. The title was won by Peter Gethin, driving a McLaren M10B.

Formula 5000 was an open wheel, single seater auto-racing formula that ran in different series in various regions around the world from 1968 to 1982. It was originally intended as a low-cost series aimed at open-wheel racing cars that no longer fit into any particular formula. The '5000' denomination comes from the maximum 5.0 litre engine capacity allowed in the cars, although many cars ran with smaller engines. Manufacturers included McLaren, Eagle, March, Lola, Lotus, Elfin, Matich and Chevron.