The first-order magneto-structural transformation that occurs in Gd5Si2Ge2 near room temperature makes it a strong candidate for many energy harvesting applications. Understanding the single crystal properties is crucial for allowing simulations of device performance. In this study, magnetically and thermally induced transformation strains were measured in a single crystal of Gd5Si2.05Ge1.95 as it transforms from a high-temperature monoclinic paramagnet to a lower-temperature orthorhombic ferromagnet. Thermally induced transformation strains of −8500 ppm, +960 ppm and +1800 ppm, and magnetically induced transformation strains of −8500 ppm, +900 ppm and +2300 ppm were measured along the a, b and c axes, respectively. Using experimental data coupled with general thermodynamic considerations, a universal phase diagram was constructed showing the transition from the monoclinic to the orthorhombic phase as a function of temperature and magnetic field.