According to the newspaper Die Presse, which was quoting the Austrian president's office, President Heinz Fischer will meet with his Russian counterpart.
Fischer said that "dialogue in the current phase was especially important".
But the Austrian president also made it clear that Putin's visit would not change Austria's opinion about Russia's annexation of the Crimean peninsula. This was still a clear violation of international law, said Fischer.
According to the paper, Putin would only be spending a few hours in Vienna, and did not plan to spend the night.
Putin has already met with French President Francois Hollande and British Prime Minister David Cameron. It was the first time since the beginning of the Ukraine crisis that the Russian president was received by any western counterparts.