The treaty, which was due to expire on February 5, limits the number of strategic nuclear warheads, missiles and bombers that Russia and the United States can deploy.
Under the previous administration, the two countries failed to agree to an extension as former US President Trump wanted to attach conditions to a renewal that Moscow rejected.
The Kremlin said the two leaders had “expressed satisfaction” that diplomatic notes between the two countries had been exchanged earlier on Tuesday confirming the agreement would be extended.
“In the nearest days, the parties will complete the necessary procedures that will ensure further functioning of this important international legal nuclear arms control tool,” the Kremlin said.
Immediately after the call, Putin submitted a draft bill on the treaty’s extension to the Russian parliament.