Since returning to the White House for his second term, Trump had repeatedly insisted that he deserved the Nobel for his role in resolving numerous conflicts -- a claim observers say is broadly exaggerated.

Trump restated his claim on the eve of the peace prize announcement, saying that his brokering of the first phase of a ceasefire in Gaza this week was the eighth war he had ended.

"It's not for me to judge whether the current US president deserves the Nobel prize -- I don't know," Putin told reporters in Tajikistan when asked about whether Trump deserved the award.

"But he's really doing a lot to resolve these complex crises, which have lasted for years, even decades," he said.

Referring to the situation in the Middle East, Putin said: "If we succeed in achieving everything Donald has strived for... it will be a historic event."

But he also criticised the Nobel committee for awarding the peace prize "to people who have done nothing for peace" in the past.

"In my opinion, these decisions have greatly damaged the credibility of this prize."

Trump shared a video of Putin's comments on his Truth Social platform, saying: "Thank you to President Putin!"

During his current term as the US president, Trump has pushed for a rapprochement with Moscow and its longtime leader, who ordered Russian troops to Ukraine in 2022.

Trump also hosted Putin on US soil during a summit in Alaska in August.

The Norwegian Nobel Committee on Friday awarded the prize to Venezuelan opposition leader Maria Corina Machado, who dedicated the award to Trump.