A novelfive-component strategy involving commercially available diketene, primary amines, malono-nitrile and various benzaldehydes for the synthesis of densely functionalized 1,4-dihydropyridines in good yields was achieved. The reaction pathway involves a sequential ring-opening of diketene/enamine formation/Knoevenagel-condensation/Michael addition and 6-exo-tetcyclization, resulting in multiple bond-formation events including two CeC and three CeN bonds ultimately leading to the formation of the respective 1,4-dihydropyridines.