The top Chinese diplomat is on a four-day visit to Russia, in the latest of a series of high-level contacts between Moscow and Beijing, AFP reported.
"Today Putin will receive Wang Yi, the Chinese foreign minister," Kremlin spokesman Dmitry Peskov told reporters.
The Kremlin has sought to deepen ties with China after the start of the Ukraine war.
China has sought to position itself as a neutral party in the Ukraine conflict, while offering Moscow a vital diplomatic and financial lifeline.
Wang met Russian Foreign Minister Sergei Lavrov on Monday.
According to a Chinese state media readout, Wang reiterated Beijing's position paper on the Ukraine conflict, which called for peace talks but was met with skepticism by the United States and NATO when it was released earlier this year.
Russia and China frequently tout their "no limits" partnership and economic and military cooperation.
In March, China's leader Xi Jinping made a state visit to Moscow, where he and Putin sought to showcase a united front against Western countries.