There was no reason given for his absence, however, at an international energy forum in Moscow last Monday, Putin mentioned the pandemic was a factor in his decision to travel.
Despite the announcement, a Kremlin spokesperson said climate change was an "important" priority for Russia.
Kremlin spokesman Dmitry Peskov said: "Unfortunately, Putin will not fly to Glasgow” adding that, to Russia, climate change is “one of our foreign policy's most important priorities."
Mr Putin has not commented on the decision to not attend COP26 which takes place in Scotland's largest city from October 31 to November 12.
Chinese President Xi Jinping is also unlikely to attend, though Chinese officials have reportedly not entirely ruled out a change of plans.
Earlier this month, the Australian Prime Minister attracted widespread criticism for suggesting he might skip the summit, but he later announced that he would attend.