Canada raced into a 19-0 lead but the Eagles roared back with 19 points of their own before Lucas Hammond scored the winning try in the dying minutes.
After topping their pool with three straight victories, Australia recorded their biggest win of the world series season on Sunday with a stunning 19-17 triumph over South Africa in the quarter-finals.
The US also upset rugby's established powerhouses by beating Olympic champions Fiji 24-19 in the quarters and then Australia 40-7 in the semis.
Henry Hutchison's 50th career sevens try saw Australia earn a 19-7 win over Argentina to top Pool C and continue its momentum gained from its third-place finish at last weekend's Hong Kong Sevens.
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Said Canada captain John Moonlight: "It's hard to put that into words".
Now that we're back on track, it's best that we should allow Baber and the players to build-up from where they have left off in Hong Kong.
AUSTRALIA is in a prime position to break its World Series drought, after going through unbeaten on day one of the Singapore Sevens. "We took a licking against Fiji yesterday, and from our coach. We are flying. An unbelievable feeling". United States famously won the 2015 London Sevens for their first Cup title with a 45-22 victory over Australia, having lost in 2010 at the Adelaide Sevens 38-10 to Samoa.
The Singapore 7s has now produced a surprise first-time victor for the second year in a row after Kenya upset Fiji in last year's final.
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