Leopold V, known as the Virtuous (German: der Tugendhafte), a member of the House of Babenberg, was Duke of Austria from 1177 and Duke of Styria from 1192 until his death.
Leopold was the son of the Austrian duke Henry II Jasomirgott from his second marriage with the Byzantine princess Theodora, a daughter of Andronikos Komnenos, the second eldest son of Emperor John II Komnenos. He succeeded his father as Duke of Austria upon his death on 13 January 1177.
Leopold is mainly remembered outside Austria for his participation in the Third Crusade. Border disputes with King Béla III of Hungary had initially impeded the duke from accompanying Emperor Frederick on his departure in May 1189. When he heard about the emperor's death in 1190, he got up and went to Venice, where he embarked to the Holy Land. Autumn storms forced him to winter in Zadar on the Adriatic coast; he arrived in Palestine to take part in the final stage of the Siege of Acre in spring 1191. Leopold took over command of what remained of the Imperial forces after the death of the emperor's son Duke Frederick of Swabia in January. According to legend, his tunic was blood-soaked after the fights and when he doffed his belt, a white stripe appeared. The new emperor Henry VI granted him the privilege to adopt these colours as his new banner, that later would become the flag of Austria.