Some of Russia's latest military hardware was on show, including the RS-24 Yars long-range nuclear missile.
Fighters, heavy bombers and helicopters flew over Red Square, including types combat-tested in Syria, where Russian aircraft are helping government forces.
The march past included Russia's new National Guard.
The National Guard will be armed with modernised AK-74M assault rifles and will be tasked with fighting terrorism and organised crime. Those operations are currently the domain of interior ministry Omon and Sobr special forces.
The parade involved 10,000 military staff, 135 armoured vehicles and 71 aircraft.
Victory Day (9 May) is an occasion for the Kremlin to stir up patriotic feelings, as Russians remember the sacrifices made in World War Two.
Russia is ploughing billions of dollars into modernising its military, amid tension with Nato over the conflict in Ukraine. So the annual parade also shows off Russian military might for an international audience.
BBC