The fire was extinguished on the Russian Black Sea fleet flagship cruiser Moskva, the Russian Defense Ministry said on Thursday.
"The source of the fire on the cruiser Moskva is localized. There is no open burning. Ammunition explosions stopped," the ministry said in a statement.
The cruiser remains afloat, its main missile armament is not damaged, and measures are being taken to tow the vessel to the port, it added.
The crew of the cruiser was evacuated to the ships of the Black Sea Fleet located in the area, it said.
Late Wednesday, Maksym Marchenko, the head of Ukraine’s Odessa Regional Military Administration, said the Ukrainian military had struck the warship with two Neptune class anti-ship missiles, causing severe damage.
The Moskva is the lead ship of the Project 1164 Atlant class of guided missile cruisers in the Russian Navy. It was put into operation in 1983 under the name "Glory." In 1996, the cruiser received its current name.
The ship’s armament included Bazalt and Vulcan anti-ship missiles as well as S-300 long-range air-defense missiles.
At least 1,932 civilians have been killed and 2,589 injured in Ukraine since the beginning of the Russia-Ukraine war, which started on Feb. 24, according to UN estimates, with the true figure feared to be much higher.
More than 4.73 million Ukrainians have fled to other countries, with over 7 million more internally displaced, said the UN refugee agency.