Unveiled in August 2004 as part of Toyota's IMV (Innovative International Multi-purpose Vehicle) project, the AN10 generation significantly increased overall body length, width, and interior room. Produced in Thailand, Argentina, and South Africa, it offered Single Cab, Extra Cab, and Double Cab body styles with enhanced towing and payload ratings. Engineers paid meticulous attention to structural body rigidity, minimizing noise, vibration, and harshness levels while enhancing cabin material quality. The refined chassis architecture delivered excellent ride comfort and predictable handling characteristics across both urban streets and high-speed highways.

Engine offerings featured 2.0L, 2.7L, and 4.0L 1GR-FE V6 petrol engines alongside 2.5L 2KD-FTV and 3.0L 1KD-FTV D-4D common-rail turbodiesels (163–171 hp). 4WD models featured manual transfer cases and optional locking rear differentials. Major mid-cycle updates in 2008 and 2011 refreshed front styling and interior infotainment. Production ran until 2015. High levels of active and passive safety were corroborated by outstanding crash test results and comprehensive driver assistance technologies. Thanks to exceptional mechanical endurance and robust powertrain engineering, this generation earned global acclaim across all major automotive markets.