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This study disentangles the changes in Indian Ocean (IO) dipole (IOD)-related SST and rainfall variability under global warming projected by the RCP8.5 runs in 29 CMIP5 models. The IOD rainfall changes consist of the thermodynamic component due to the surface moisture increase and the dynamic component due to the changes in IOD-related circulation. The IOD circulation changes are dominated by the IOD SST changes, which were further clarified using the amplitude and structural decomposition. The amplitudes of IOD SST and circulation are both decreased at rates of around 7.2% and 13.7% degrees C-1, respectively. The structural changes in IOD SST and circulation show a pattern with increases from the eastern to the western coast of the equatorial IO, similar to the pattern of so-called extreme IOD events in previous studies. Disentangling previous mechanisms and projections, we conclude that the increased atmospheric stability suppresses the amplitudes in IOD SST and circulation, whereas the positive IOD (pIOD)-like mean-state SST changes, leading to greater warming in the west than the east, mainly alter the structure of IOD SST and circulation. Both the amplitude and structural changes in the IOD SST and circulation are robust among the CMIP5 models, but their distinct patterns and out-of-step changes lead to an uncertain projection of IOD changes defined by the dipole mode index or EOF analysis in previous studies. Furthermore, the structural changes, dominated by the pIOD-like mean-state SST changes, are significantly correlated with the historical IOD amplitude among the models. Considering the commonly overestimated IOD amplitude as an emergent constraint, the structural changes in IOD SST and circulation should not be as robust as the original multimodel projection.