The five teenagers were ejected from their vehicle after it flipped over a wall on the University Parkway ramp leading to Interstate 85 just before 4am on Monday, sending them plunging 50-feet to the lower roadway.
They were pronounced dead at the scene, police said.
Two other cars were involved in the crash, with three people from the other vehicles being hospitalised.
Police say they are investigating the cause of the collision, and are appealing for witnesses to come forward.
The roads were closed for several hours as emergency services cleared the wreckage.
Three of the deceased were students at Lakeside High School in DeKalb County, police said.
Katie and Ashley Gaitan, from Atlanta, were remembered as “two beautiful souls who were inseparable from each other” in a GoFundme page set up by their friend Valeria Alvarez Ramos.
Hung Nguyen, of Lawrenceville, is survived by his brother and parents, a GoFundme account stated.
A GoFundme page set up for Atlanta teenager Coral Lorenzo stated that her “family and our entire community is grieving the loss of an amazing person”.
Abner Santana, of Suwanee, was remembered as a “cherished member” of the family on an online fundraiser to help cover funeral costs.
Gwinnett County Police Department Corporal Christian D’Allaird told a news conference that investigators were trying to piece together the cause of the accident.
All five of the deceased were believed to be in the same vehicle.
The three injured people were in a stable condition, police said.