The Italian has been heavily linked with the position after a prolonged absence from the game and the Arsenal playmaker has claimed that he has secured the role already
Italian boss Capello has been out of work since resigning from his role as England manager in February, but has been constantly linked with the job since featuring on a 13-man list designed to replace outgoing Dick Advocaat.
Arshavin, the national team captain, wrote: "Russia's national coach has been appointed – he is Fabio Capello. We wish him success in his new job."
The 31-year-old Arsenal player, loaned out to Zenit last season, is considered to be the talisman of the Russian side and could well have received some inside information from the RFU about the identity of the new man in charge.
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His statement, though, has come at an awkward time considering that the latest information published by the RFU said that further talks with the 66-year-old will commence this week.
Speculation has been rife that Capello is the man to replace Advocaat after he met sports minister Vitaly Mutko and acting RFU chief Nikita Simonyan on Thursday.
The RFU want to bring their managerial search to an end as quickly as possible and want a new coach appointed at some point next week, with local media reports suggesting that Capello would hold more negotiations on Tuesday.
Sports minister Mutko described the initial round of discussions as "productive."