He is expected to lead Russia for another six years.
Vladimir Putin was earlier projected to win the Russian presidential election with 73.9 percent of the vote, to secure a fourth Kremlin term, according to an exit poll by state-owned pollster VTsIOM.
The exit poll from 1,200 polling stations around Russia gave second place to Communist candidate Pavel Grudinin with 11.2 percent. VTsIOM said in a statement that over 37 percent of those polled refused to say who they voted for.
Russians voted Sunday in a presidential election which hands Vladimir Putin a record fourth term, with officials reporting strong turnout but the opposition crying foul.
Putin contested against seven other candidates, but his most vocal critic Alexei Navalny was barred for legal reasons and the outcome is in little doubt.
About 107 million Russians are eligible to cast ballots and turnout was nearly 60 percent an hour before polls closed in Moscow at 1700 GMT, according to figures displayed in the central electoral commission information centre.
Authorities have pulled out all the stops to boost participation, with selfie competitions, cheap or free food and entertainers organising games for children at polling stations.
Employees of state and private companies have reported coming under pressure to vote, while students have been threatened with problems in their exams or even expulsion if they do not take part, according to the opposition-leaning Novaya Gazeta newspaper.