The new branding features a circle and two lines, which are said to represent a burger and two French fries.
The company has not yet revealed the name of the chain, although a number of options have reportedly been considered.
In May, McDonald's said it would pull out of Russia over the Ukraine war.
It comes as the Russian chain is scheduled to reopen 15 restaurants this weekend, according to Russian state-owned news agency TASS, which cited Sistema PBO, the firm that manages the business previously owned by McDonald's.
"The green background of the logo symbolises the quality of products and service that our guests are accustomed to," a Sistema PBO spokesperson told TASS.
Social media users commented that the new logo still looked like an "M".
Others said that the new logo seemed to be inspired by the flag of Bangladesh, which also has a dark green background and a red circle in similar shades to the new logo.
According to newspaper Izvestia, Sistema PBO has submitted eight potential names for the new chain to Rospatent, which is the Russian government agency in charge of intellectual property.