The exercises on Yeonpyeong island are due to be held in the coming days Russia says it is seriously concerned that tensions between North and South Korea will escalate further.
Pyongyang is threatening to retaliate if the South goes ahead with planned military exercises on an island near the two countries' disputed sea border.
Last month four people were killed when the North attacked the island during similar exercises.
The UN Security Council is preparing to discuss the situation at an emergency meeting, scheduled at Russia's request.
Russian ambassador to the UN Vitaly Churkin said his country was "seriously concerned about possible further escalation of tensions on the Korean peninsula".
"We believe that the Security Council must send a restraining signal... and help launch diplomatic activity with a view to resolving all issues of dispute between the two Korean sides by political and diplomatic means," he said.
'Catastrophe'Russia has already urged South Korea to cancel the live-fire exercises on Yeonpyeong island.
The South has said they will be held by Tuesday - with the exact date depending on the weather.
It says they are defensive in nature and should not be considered threatening.
But the North Korean foreign ministry said on Saturday the South would face "catastrophe" if the drills go ahead.
China has also expressed concern about the rising tensions, describing the situation as extremely precarious.
And an unofficial US envoy visiting North Korea - New Mexico Governor Bill Richardson - has warned that the situation on the peninsula is "a tinderbox".
He made the comments after talks with officials in Pyongyang, whom he urged to act with extreme restraint.
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