Putin, who is barred by the Constitution from running for a third consecutive term, has agreed to become prime minister if First Deputy Prime Minister Medvedev is elected president on March 2.
Speaking at his final annual news conference in the Kremlin, attended by over 1,300 Russian and foreign reporters, Putin said: "I have worked with Dmitry for over 15 years and would not support a presidential candidate if he needed tutorship or any advice on his current work."
Putin ruled out that there could be power-sharing disputes with the new president, saying the job of premier would provide sufficient power.
"The government is the top executive body in the country. It has sufficient powers," including control of the budget, economy and defense. "Dmitry Medvedev and I will decide our practical relationship if voters allow us to do that."
Putin said powers between the president and prime minister would not be redistributed.
The president said as premier he could oversee ambitious multi-million-dollar national projects, which are currently Medvedev's responsibility. The projects in the spheres of education, housing, agriculture and welfare are designed to improve living standards in the country.
Putin said he is prepared to be premier as long as Medvedev is president: "If I see that I can implement in that role the goals I have myself set, I will work [as premier] as long as the opportunity remains in place."
He called his likely successor a "mature politician" and someone to whom he is not "ashamed and afraid of ceding power." "I trust him," the president added.
According to national opinion polls, Medvedev is the clear presidential favorite with over 70% of voter support. Putin publicly backed his candidature for the country's top job late last year in a bid to "ensure the continuity" of current policies.
The president approved of Medvedev's decision not to engage in television debates with other presidential hopefuls. An election campaign without heated debates is a sign of broad support for a leading candidate, rather than of lack of democratic freedom, he said.
Putin said he was grateful to have had both the "honor of being president" and the opportunity to serve to his country in a different capacity, as premier.
