Putin answered questions from adults and children from around the country during the highly scripted event, which he used to burnish his image as a strong leader who protects Russia from foreign threats and cares about ordinary people's needs.
In the days before, and during the show, Russians sent more than 3 million questions to Putin, ranging from bread-and-butter troubles at home to the war in Syria.
"We must respond, or otherwise they will sit on our neck and whip us," Putin said.
He said the United States must abandon what he described as its "imperial ambitions" and learn to respect Russia's legitimate interests.
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"If they talk to us in a respectful way, we will always be able to find solutions that will satisfy everyone," he said.
"They must simply work with Russia as an equal partner."
He praised US President Barack Obama's courage in saying that the failed aftermath of the 2011 intervention in Libya was the worst mistake of his presidency. "Only a very strong man could do that," Putin said.
He refrained from picking a favorite in the US presidential race, but noted that if Hillary Clinton wins it would be yet another example of members of one family winning the presidency. "Where is the change?" he said.
Putin wouldn't say whether he will seek another six-year term in 2018, although he is widely expected to run.
On Syria, Putin said Russia has shored up the national army there to the point where it can conduct offensive operations despite a Russian military drawdown, pointing to the Syrian forces' success in recapturing Palmyra from the Islamic State group.