Lima was discovered while shopping at a local mall at the age of 13. At the age of 15, she entered and finished in first place in Brazil's Ford Supermodel of the World Search. She subsequently entered the 1996 Ford Supermodel of the World contest and finished second place.[12] Three years later, she moved to New York City, and signed with Elite Model Management. Lima’s modeling portfolio began to expand exponentially, appearing in numerous international editions of Vogue and Marie Claire. As for fashion shows, she has walked the catwalks for big-name designers such as Vera Wang, Christian Lacroix, Emanuel Ungaro, Giorgio Armani, Fendi, Ralph Lauren, Valentino, among others. Lima then became a GUESS? girl appearing on GUESS?' Fall 2000 ad campaign. She also appeared in the book 'A second decade of Guess? Images.

In 2001, Lima starred in BMW short film, The Follow alongside actors Mickey Rourke, Clive Owen, and Forest Whitaker. The film was directed by Hong Kong film director and internationally renowned auteur Wong Kar-Wai.[14]

Lima continued to build upon her entry, doing more print work for Maybelline, bebe, Mossimo, BCBG and gracing the cover and editorials of more high fashion magazines such as Harper's Bazaar, ELLE, Vogue, GQ, to name a few. Her April 2006 GQ cover was the highest-selling issue of the year.[15] Her other notable works include the Pirelli Calendar 2005[13] and the face of Italy’s big cell phone carrier Telecom Italia Mobile, where she became known as the "Catherine Zeta-Jones of Italy."[16]

Lima is probably best known for her work with Victoria's Secret. She first graced the Victoria’s Secret Fashion Show in 1999 and has appeared on subsequent shows ever since. Her most notable walk down the runway was in 2003, where she was the show opener. Lima had appeared on several television ads for the brand but her most memorable one, was appearing alongside the legendary rock musician Bob Dylan in 2003 Victoria's Secret Angel in Venice commercial which received both praise and criticism.[17][18] She is currently a contract 'Angel' and spokesperson for the brand. She appeared in Victoria Secret's Super Bowl XLII ad.[13]

Lima is also a spokesperson for cosmetics giant Maybelline New York.[3] She is the world's fourth highest paid supermodel as of 2007