The monument is a giant replica of an iPhone, with a photo and video slide show of Job's life displayed on its screen, RIA Novosti reported.
The back of the monument features a QR code which when scanned directs people to a website commemorating the Apple co-founder.
The monument, designed by St. Petersburg resident Gleb Tarasov, is located outside the St. Petersburg National Research University of Information Technologies, Mechanics and Optics.
Apple products like the iPhone and iPad are popular in Russia among mostly urbanized, middle- and upper-class consumers, RIA Novosti said.
Jobs, who built Apple into an international technology giant, died in October 2011 of cancer.