The Canadians are looking to win their first title since a dramatic run during the 2009 tournament in Ottawa.
Russia, meanwhile, is searching for its first gold medal since the 2011 championship. It was at that tournament in Buffalo, N.Y., where the Russians came back from a 3-0 deficit in the final to shock Canada.
Canada looked like the stronger team in the preliminary round, winning all four games while scoring a tournament-leading 21 goals and allowing only four.
Russia won one game in regulation, another in overtime and lost two while scoring 13 goals and allowing nine.
Canada continued to dominate in the playoff round, allowing only one goal while scoring a combined 13 on Denmark and Slovakia.
The Russians advanced with victories over the U.S. and Sweden.