Putin said in televised comments that "we have come very close to the creation of so-called cancer vaccines and immunomodulatory drugs of a new generation".
"I hope that soon they will be effectively used as methods of individual therapy," he added, speaking at a Moscow forum on future technologies, said a Reuters report.
Putin did not specify which types of cancer the proposed vaccines would target, nor how.
A number of countries and companies are working on cancer vaccines. Last year the UK government signed an agreement with Germany-based BioNTech to launch clinical trials providing "personalised cancer treatments", aiming to reach 10,000 patients by 2030, reports BSS.
Pharmaceutical companies Moderna and Merck & Co are developing an experimental cancer vaccine that a mid-stage study showed cut the chance of recurrence or death from melanoma - the most deadly skin cancer - by half after three years of treatment.