Political parties are the bedrock of a political system as they are the foundational element of a competitive electoral system. With the elimination of monolithic party system under Communist Party of Soviet Union (CPSU), Russia moved towards the multi-party system under the presidentship of Mikhail Gorbachev which was continued under the regime of Boris Yeltsin and Vladimir Putin too. The present article traces the journey of Russian party system with its special distinctive features and different phases of development in a wholesome manner.