The restrictions take effect on 16th November and are part of broader curbs on Russian citizens entering Finland for short-term work on Schengen visas, the government said in a statement.
"As Russia's war of aggression continues, Russian athletes have no business coming to Finland. Their entry would endanger Finland's international relations," Foreign Minister Elina Valtonen said.
Russian citizens will in the future only be allowed to work in Finland on Schengen visas in jobs deemed essential to the country's national interests, including security of supply, the government said.
The decision comes amid the ongoing discussions regarding Russia's participation in next year's IIHF World Championship, due to be held in Germany, for which the Court of Arbitration for Sport ruled that Russia should be allowed to return to.
More pressing for Finland, however, is the upcoming opening round of the World Cup in cross-country skiing, due to be held in Ruka at the end of November. The International Ski Federation (FIS) has already given permission for a number of Russian skiers to compete under a neutral flag, and the country has announced its squad to go to Finland.
The ban comes into effect after the two NHL matches due to take place in Finland this month, in which Russian players are expected to participate.