The decree, published by the Russian president's office (in Russian), stipulates that "the numerical size of the Armed Forces of the Russian Federation should be set at 2,039,758, including 1,150,628 military personnel".
Currently the limit is set at 1,013,628 military personnel, though the actual number before the start of the invasion was thought to be closer to 900,000.
Read more: 184 Days of the War: russian Casualties in Ukraine
The decree asks the government to provide funds from the federal budget for this purpose. It will come into force on 1 January 2023.
Currently Russia has a limit of just over a million military personnel and almost 900,000 civilian staff.
Vladimir Putin's decree comes amid a recruitment drive around the country, with large cash incentives on offer.
Western officials say 70-80,000 troops have been killed or wounded since Russia invaded Ukraine six months ago.
There have been reports that recruiters have even been visiting prisons, promising inmates freedom and money.
It should be noted, recently Russian Defence Minister Sergei Shoigu told the Shanghai Cooperation Organisation that Russia was deliberately slowing the pace of its military campaign in Ukraine, driven by the need to reduce civilian casualties.
But according to the United Kingdom Ministry of Defense, Russia’s offensive has stalled because of poor Russian military performance and fierce Ukrainian resistance. The forces operating in Ukraine have repeatedly missed planned operational timelines.
Read more: Chronicle of the Russian Federation Crimes in Ukraine (August)
