Trump said he called Putin to congratulate him on his election victory and during the call they also agreed to get together soon.
"We will probably get together in the not-too-distant future," he said.
Trump said they would likely discuss "arms race which is getting out of control. We will never allow anybody to have anything close to what we have. And also to discuss Ukraine, Syria and North Korea."
Last month, the Trump administration released a nuclear posture review aimed at modernizing nuclear weapons.
U.S. Sen. John McCain, R-Ariz., expressed disdain over Trump's call with Putin.
"An American president does not lead the Free World by congratulating dictators on winning sham elections. And by doing so with Vladimir Putin, President Trump insulted every Russian citizen who was denied the right to vote in a free and fair election," McCain tweeted.
The call comes on the heels of new sanctions being imposed less than a week ago on Russian entities for interfering in the 2016 U.S. presidential election. The sanctions were imposed amid tensions over a nerve agent attack on former Russian double agent Sergei Skripal and his daughter in Britain.