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The measurement of orbital eccentricity in gravitational-wave (GW) signals will provide unique insights into the astrophysical origin of binary systems, while ignoring eccentricity in waveform models could introduce significant biases in parameter estimation and tests of general relativity. Upcoming LIGO-Virgo-KAGRA observing runs are expected to detect a subpopulation of eccentric signals, making it vital to develop accurate waveform models for eccentric orbits. Here, employing recent analytical results through the third post-Newtonian order, we develop v5: a new time-domain, effective-one-body, multipolar waveform model for eccentric binary black holes with spins aligned (or antialigned) with the orbital angular momentum. Besides the dominant (2, 2) mode, the model includes the (2, 1), (3, 3), (3, 2), (4, 4), and (4, 3) modes. We validate the model’s accuracy by computing its unfaithfulness against 99 (28 public and 71 private) eccentric numerical-relativity (NR) simulations, produced by the Simulating eXtreme Spacetimes Collaboration. Importantly, for NR waveforms with initial GW eccentricities below 0.5, the maximum (2, 2)-mode unfaithfulness across the total mass range $20–200M_{\odot }$is consistently below or close to 1%, with a median value of $\sim 0.02\%$, reflecting an accuracy improvement of approximately an order of magnitude compared to the previous-generation v4 and the state-of-the-art esumalí eccentric model. In the quasi-circular-orbit limit, v5 is in excellent agreement with the highly accurate v5 model. The accuracy, robustness, and speed of v5 make it suitable for data analysis and astrophysical studies. We demonstrate this by performing a set of recovery studies of synthetic NR-signal injections, and parameter-estimation analyses of the events GW150914 and GW190521, which we find to have no eccentricity signatures.