The 41 articles collected in this volume are selected from 170 submissions to the conference Wavelet Analysis and Applications 2005 (WAA2005) held during the 29th November to the 2nd December, 2005, at University of Macau. The articles selected are the outgrowth and further development of the talks presented at the conference by international participants from 22 different countries and areas, including Australia, Belgium, Brazil, China, Ethiopia, France, Germany, India, Iran, Hong Kong, Japan, Korea, Macao, Malaysia, Mexico, Portugal, Russia, Taiwan, Thailand, Tunisia, UK, United States, and in both the applied and pure mathematics fields. Most of them are up-to-date new research. We include a number of comprehensive surveys, also containing new results, in several particular areas of research. All the papers are strictly refereed. This volume reflects some of the latest development in the area of wavelet analysis and its applications. It contains two major components: Part I - Wavelet Theory, and Part II - Wavelet Applications. We note that for the readers convenience the book contains a colored-printed RAM disc although the book itself is in black and white.