Daniil Markiv holds the trophy aloft [AFP]
Ilya Kovalchuk scored on the power play at 2:42 of overtime to give Russia a 5-4 victory over Canada on Sunday at the world men's hockey championship in Quebec City.

The goal came with Canada's Rick Nash in the penalty box.

Kovalchuk's goal capped a huge comeback for the Russians, who trailed Canada 4-2 going into the third period.

The Russian star, who plays for the Atlanta Thrashers of the NHL,  slapped the deciding goal through a crowd of players in front of Canadian goalkeeper Cam Ward, and jumped into the arms of his teammates who spilled off their bench to celebrate the World championship victory.

It's Russia's first gold medal in this tournament since 1993.

Canada, meanwhile, failed in its attempt to become the first host nation to win the championship since the Soviet Union team performed that feat in 1986 in Moscow.

Finland defeated rival Sweden 4-0 on Saturday to win the bronze medal at the IIHF world hockey championship.