During the conversation Mr Putin and Mr Berlusconi praised the multi-faceted Russian-Italian partnership of the outgoing year.
They placed special stress on the completion of the Blue Stream pipeline project, which will transport Russian natural gas to Turkey.
They discussed certain aspects of further development of bilateral cooperation, including top level and other contacts scheduled for the start of 2003.
Mr Putin and Mr Berlusconi exchanged New Year greetings and good wishes to their respective nations.