Putin spoke during a ceremony in the Kremlin's sumptuous St George's Hall to bestow awards on servicemen who fought in Syria, with the military's top brass among some 700 personnel from the armed forces in attendance.
"If there's a need, Russia literally within several hours can ramp up its presence in the region to the size required for the unfolding situation and use the whole arsenal of possibilities we have at our disposal."
"And that's why we put our hopes in the common sense of all parties, in the commitment to the peace process of both the Syrian authorities and the opposition."
On Monday, Putin ordered the surprise withdrawal of most of armed forces from Syria, saying Moscow's task had been "on the whole" completed.
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He said Moscow was not abandoning its ally Bashar al-Assad, pledging Russia's continuing military, financial and other support to his regime and praising the Syrian leader.
"We see his restraint, his sincere desire to achieve peace, his readiness for compromise and dialogue."
Putin said Moscow would keep its advanced S-400 air defence systems stationed in the war-torn country and warned its forces would shoot down "any target" they considered a threat.
He added that he was certain that the "patriotic forces" fighting jihadists would score new battlefield triumphs in the near future.
The Russian leader also extolled the country's armed forces for their service in the Middle Eastern country.
"It is you - the Russian soldiers - who opened the path to peace," he said, adding that the five-and-a-half-month Syria campaign allowed Russia to test its weapons on the battlefield.
But critics charge that Putin's foreign policies have sunk Russia into an economic quagmire, with support for Ukrainian rebels and the Assad regime diverting finances from medical care, education and science.
Putin pledged that "attention to economic development in difficult conditions" was a top government priority.
Many analysts argue the danger of a costly protracted war similar to the Soviet Union's 10-year involvement in Afghanistan was not lost on the Kremlin, with Putin deciding to pull the forces out amid a relative lull in fighting and peace talks.