Brown-haired and blue-eyed Glebova, a 23-year-old motivational speaker, was born in Russia but emigrated to Toronto as a young girl. She won the beauty pageant ahead of Puerto Rico's Cynthia Olavarria, who was first runner-up.
"I feel like this is all happening too fast and it's unreal," a breathless Glebova told reporters Tuesday as she waved a Canadian flag.
"I am so much looking forward to the year ahead."
Eighty-one women took part in the glitzy event, which paused for a moment of silence for victims of the tsunami that caused massive death and destruction in 11 Indian Ocean countries including Thailand in December.
Glebova beat out Olavarria, second runner-up Renata Sone of the Dominican Republic, third runner-up Laura Elizondo of Mexico and Monica Spear of Venezuela.
Glebova, who won hearts in the audience by saying "thank you" in Thai and pressing her palms together in a traditional Thai "wai", said being thrust into the spotlight could serve as inspiration for other immigrants around the world.
Glebova praised immigration, as it "gives people an opportunity to start a new life just like my family," she said as her blushing parents stood by on stage.
"When we came 11 years ago we came with nothing and now we have so, so much. Canadians have embraced me as one of their own."
The world's largest Muslim nation, Indonesia, reached the final 15 as Artika Sari Devi was the first contestant from Indonesia in almost a decade. The swimsuit comeptition stirred contraversy last time Indonesia competed in the event, leading to a ban from then dictator Suharto.
Devi's inclusion in the competition was not contraversy free. Her participation drew criticism from conservative Muslims at home, leading her to opt for a one-piece bathing suit instead of a two-piece bikini.
Co-host Nancy O'Dell was driven on stage in a "tuk-tuk", a three-wheeled local taxi. Her show partner Billy Bush, a cousin of President George W. Bush, rode an Asian elephant through the black-tie crowd. Could this be the debut of America's next president?
The competition came to Thailand five months after giant waves devastated coastlines around the Indian Ocean and killed more than 217,000 people. About 5,400 died in Thailand, half of them foreign holidaymakers, and more than 2,800 remain missing.
In a "moment of respect", about 5,000 guests held up small lights to represent a candle-filled sea.
"I think it was worth hosting the pageant," Prime Minister Thaksin Shinawatra, who delayed a cabinet meeting to attend the spectacle, said when asked about the more than six-million-dollar cost of hosting the event.
"It will be positive for tourism."
The pageant is co-owned by the star of "The Apprentice" and New York property tycoon Donald Trump.
The United States has produced the most winners with seven, while Puerto Rico and Venezuela each have four crowns.

A beaming Natalie Glebova of Canada was crowned Miss Universe 2005.

Natalie Glebova reacts after being named Miss Universe 2005 as first-runner-up Cynthia Olavarria of Puerto Rico claps.

Miss Universe 2005 Natalie Glebova poses with nine-year-old elephant Num Choke, whose name means 'Bringing Luck'.

Natalie Glebova in an evening gown.
Sources: Ya Libnan, Pravda, , Reuters
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