Miss Russia 2014 was held in the Crocus National Exhibition Hall in Moscow on March 1, 2014. A total of 50 contestants from all over Russia competed for the crown. Each year, contestants from state and city pageants of Russia qualify to further compete in the Miss Russia pageant. Before the national competition each year, a pre-preliminary competition is conducted in Moscow to select the 50 official candidates.

From amongst the 50 beauties competing for Miss Russia 2014, the Top 20 contestants were selected by a two tier process. The 10 contestants with the most online votes made it to Top 20. The remaining 10 contestants were selected by the jury.

At the finals held on March 1, 2014 in the Crocus National Exhibition Hall in Moscow, Elmira Abdrazakova of Mezhdurechensk crowned her successor, Yulia Alipova as Miss Russia 2014. Gabriela Isler, the Miss Universe 2013, and Megan Young, the Miss World 2013, were also invited at the finals. Yulia Alipova then went on to represent Russia at Miss Universe 2014 which was held on January 25' 2015, though could not place at finals.

Anastasia Reshetova was adjudged as the First Runner up, and Anastasia Kostenko finsihed as the Second Runner up in Miss Russia 2014. Anastasia Kostenko went on to compete in Miss World 2014 and was placed Top 25 at the finals held in London, England on December 14' 2014.