For winning Last Comic Standing, Iliza received the grand prize of $250,000, an exclusive talent deal with NBC, a brand new Honda Pilot, and a guest appearance in Jubilee! at Bally's Las Vegas.
Louis Ramey was the first Top 5 finalist to learn he was eliminated during last night's finale.
"It's just given me a chance to showcase myself in front of the entire country," said Louis after his ouster. "I'm grateful for that."
British comedian Jim Tavare was the next finalist to receive the boot, followed by Jeff Dye.
Last Comic Standing host Bill Bellamy then revealed Iliza had defeated Marcus to take home the title.
"It's changed my life," said Marcus before the results. "To be able to have a future doing what I love and just being up on this stage and being in front of all these people and making people laugh is the greatest feeling in the world. Now I get to do that as my job. I love that."
Last Comic Standing's sixth-season finale also featured stand-up performances by Jon Lovitz and fifth-season champ Jon Reep; special appearances by Gilbert Gottfried, Penn and Teller, Joel McHale and celebrity talent scouts Richard Belzer and Steve Schirripa; and humorous campaign ads by presidential nominees Barack Obama and John McCain.