The body of Anna Loginova, 29, who owned a private security company, was found in southwest Moscow late on Sunday, Komsomolskaya Pravda said.
A witness to the carjacking said a man ran from a Lada car, as Loginova's Porsche came to a stop, pulled her out of the vehicle and jumped in the driving seat. Loginova was still hanging onto the door when the Porsche screeched away.
Anna Loginova was dragged a few meters along the road and only let go when her head hit the tarmac. She was confirmed dead at the scene.
The stolen vehicle was found later abandoned in southwest Moscow.
The police are continuing their search to trace those involved in the car theft and death of the famous model.