An image pickup optical lens assembly, sequentially arranged from an object side to an image side along an optical axis, comprising: the first lens element with positive refractive power having a convex object-side surface, the second lens element with negative refractive power, the third lens element with refractive power, the fourth lens element with positive or negative refractive power having a concave object-side surface and a convex image-side surface with both being aspheric, and the fifth lens element with positive or negative refractive power having a convex object-side surface and a concave image-side surface with both being aspheric. Additionally, the image pickup optical lens assembly satisfies conditions related to the reduction of the total length and the sensitivity of the image pickup optical lens assembly for compact cameras and mobile phones with camera functionalities.