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Edge Computing in 5G and Beyond is a promising solution for ultra-low latency applications (e.g. Autonomous Vehicle, Augmented Reality, and Remote Surgery), which have an extraordinarily low tolerance for the delay and require fast data processing for a very high volume of data. The requirements of delay-sensitive applications (e.g. Low latency, proximity, and Location/Context-awareness) cannot be satisfied by Cloud Computing due to the high latency between User Equipment and Cloud. Nevertheless, Edge Computing in 5G and beyond can promise an ultra-high-speed caused by placing computation capabilities closer to endpoint devices, whereas 5G encourages the speed rate that is 200 times faster than 4G LTE-Advanced. This paper deeply investigates Edge Computing in 5G and characterizes it based on the requirements of ultra-low latency applications. As a contribution, we propose a hybrid architecture that takes advantage of novel and sustainable technologies (e.g. D2D communication, Massive MIMO, SDN, and NFV) and has major features such as scalability, reliability and ultra-low latency support. The proposed architecture is evaluated based on an agent-based simulation that demonstrates it can satisfy requirements and has the ability to respond to high volume demands with low latency., Comment: Submitted to Special Issue on Smart Edge Computing and IoT of IEEE Transaction on Computers