Yasmina Zaytoun of Lebanon was the first runner-up among 112 contestants in the competition held in Mumbai, India's financial and entertainment capital.
"Being crowned Miss World is a dream come true," Pyszkova said.
"I am deeply honoured to represent my country and the values of 'beauty with a purpose' on a global platform."
After reigning Miss World Karoline Bielawska of Poland passed the crown to her, Pyszkova waved to the large crowd at the Jio World Convention Centre and hugged some of the other contestants.
The participants wore heavily embroidered skirts and blouses and danced to popular Bollywood songs.
The beauty competition returned to India for the first time in 28 years.
India's Sini Shetty exited after making it to the final eight.
Six Indian women have won the title including Reita Faria (1966), Aishwarya Rai (1994), Diana Hayden (1997), Yukta Mookhey (1999), Priyanka Chopra (2000) and Manushi Chillar (2017).
The 71st Miss World beauty pageant was hosted by Bollywood filmmaker Karan Johar and Miss World 2013 Megan Young from the Philippines.
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