The article aims at presenting and assessing the role of state-financed grants in the Armenian-Russian scientific ties development. Armenian-Russian relations have a long history of collaboration and capture nearly all fields starting from cultural-humanitarian to military-political ones. Scientific cooperation is amongst the most rapidly developing aspects of bilateral relations. Since 2012 scientific cooperation is being implemented also within the framework of state-sponsored bilateral grant projects organized jointly by the State Committee of Sciences of the Ministry of Education and Science of the Republic of Armenia and the Russian Humanitarian Scientific Foundation and the Russian Foundation for Basic Research under the Government of the Russian Federation. The paper considers four competitions carried out within the framework of the above grant programs. The study is based on the Armenian, Russian and international databases to evaluate bibliometric indicators - Web of Science (WoS), Russian Index of Scientific Citation (RSCI) and Armenian Index of Scientific Citation (ASCI). The study period is 1991-2015. Due to differences in access to the above-mentioned databases, the time frame of the information used differs: publications indexed in WoS were considered for 2006-2015, RSCI - 1991-2015 and ASCI - 2007-2012. Such bibliometric indicators as author's publications number, author's citations total number, the Hirsch index, journals impact factor, self-citations number, an average number of citations per a publication are used. The above bibliometric indicators, as well as ages and scientific degrees of winners and other participants, have been compared with each other. The article also analyzes the scientific journals where the results of the projects were published. In general, the paper emphasizes the high effectiveness of state grant programs in the Armenian-Russian scientific cooperation development.