Swiss cyclist Fabian Cancellara has failed to realise his dream of winning the cycling world championships in his home country, narrowly missing a podium place.

The race, staged in Mendrisio, was won by Australian Cadel Evans, who lives in southern Switzerland.

Silver in the 262.2km course went to the Russian Alexander Kolobnev and bronze to the Spaniard Joaquin Rodriguez.

Cancellara, who won the time trial earlier this week, had to content himself with fifth place.

He launched several attacks and was still in contention on the final lap, but the three eventual medalists broke clear together and Evans mad his decisive break on the climb to Novazzano.

"That's sport for you. My rivals saw me racing in Thursday's time trial and made their tactical decisions for today," Cancellara said.

Evans became the first Australian to take gold in this year's world championship race.

"It is something exceptional," he said.

It is the first time in 13 years that the world championships have been held in Switzerland.

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