Mr Putin watched the fights together with actor Jean-Claude Van Damme, known for his martial arts skills, his daughter Bianca, and former Italian Prime Minister Silvio Berlusconi.
Sportspeople from Russia, the United States and other countries took part in the tournament.
The tournament’s central event was a fight between four-time world professional fight champion Fyodor Yemelyanenko of Russia, and U.S. sportsman Matt Lindland. Victory went to Mr Yemelyanenko.
Mr Putin met later with the tournament’s participants and guests at the Konstantin Palace in Strelna.