Eight nuclear submarines, 600 jets and 1,000 helicopters feature in plans to renew Russia's military by 2020, priced at 19tn roubles (£400bn; $650bn).
One hundred warships are also due to be bought in, including two helicopter carriers, in addition to two already being purchased from France.
The submarines will carry the Bulava missile, despite recent test failures.
Analysts say the ambitious programme only makes sense if the military upgrades its training and recruitment.
A painful drive to streamline the armed forces is already under way, with up to 200,000 officers losing their jobs and nine out of every 10 army units disbanded, the Associated Press news agency notes.
If the renewal is a success, it will leave Russia less reliant on the nuclear arsenal it inherited from the USSR.
"Russia needs a professional non-commissioned officer corps to train specialists who can really put these arms to effective use," Pavel Felgenhauer, an independent military analyst, told AP.
"This spending necessitates a whole new kind of military". BBC News
