He did not address the challenges facing Russia as its forces prepare for an expected major counter-offensive by Ukraine, or outline any path to victory.
The speech, followed by a huge military parade across Red Square, was taking place following a wave of strikes inside Russia this month - including a purported drone attack on the Kremlin citadel itself less than a week ago.
Victory Day is one of the most important public holidays in Russia, when people commemorate the huge sacrifices made by the Soviet Union during what is called the Great Patriotic War of 1941-45, in which around 27 million citizens perished.
This anniversary is even more emotionally charged as Russia mourns thousands of soldiers killed in the nearly 15-month war in Ukraine which shows no sign of ending.
Those attending the festivities include the presidents of Kazakhstan, Uzbekistan, Kyrgyzstan, Turkmenistan, Tajikistan, and Belarus.
Azerbaijani President Ilham Aliyev celebrated Victory Day with a statement on Twitter, saying that he congratulated "veterans of Azerbaijan on the victory over fascism in World War II."
Meanwhile, the traditional Immortal Regiment events, which have been held since 2012 in memory of workers and military personnel, have been canceled due to security concerns.
Parades and marches have also been canceled in the Saratov, Belgorod, Kursk, Voronezh, Oryol, and Pskov regions due to security concerns, according to local authorities.
On the same day, Ukraine will be celebrating Europe Day. President Volodymyr Zelensky declared the day through a presidential decree on Monday.
Zelensky said he signed a relevant decree to commemorate "the unity of all Europeans" who won against Nazism.
He also noted that he will be submitting a bill to Ukraine's parliament, the Verkhovna Rada, proposing that May 8 be the "Day of Remembrance and Victory over Nazism in the Second World War of 1939-1945."
