The Aquanaut Ref. 5167 is the current primary Aquanaut sports watch from Patek Philippe and has been available since 2007.

Patek Philipe launched the Aquanaut range in 1997 as a lower-priced alternative to the existing Nautilus range. A true sports watch, the Aquanaut features a rugged three-part case and screw-down crown for 120 meter water resistance, the most of any watch with a sapphire caseback at that time. The original Ref. 5060/5066 Aquanaut was fairly small at 36 mm but a "Jumbo" Ref. 5065, with a 38 mm case, soon followed. This would become the main Aquanaut model for the next decade.

In 2007, Patek Philippe introduced this Ref. 5167 at BaselWorld. It is improved over the original, with a contoured “tropical” rubber strap, improved clasp, new dial, and larger 40 mm case. Inside, Cal. 315 has been replaced by the improved Cal. 324 S C. Both are central rotor automatic movements.

The modern Aquanaut is available in stainless steel with a rubber strap or steel bracelet (Ref. 5167A and 5167/1A) or in rose gold (Ref. 5167R). A larger 42.2 mm case "Jumbo" Ref. 5168 was introduced in 2007.