The report accused Russia of trying to sway the election in favour of former Republican President Donald Trump, who was defeated by Mr Biden, a Democrat.
Mr Putin’s spokesman, Dmitry Peskov, said the accusations were not backed by evidence and would further harm bilateral ties.
The US is expected to impose sanctions on Russia as soon as next week over the report’s conclusions.
What did Russia’s foreign ministry say?
“Russian Ambassador to the United States Anatoly Antonov has been summoned to Moscow for consultations in order to analyse what needs to be done in the context of relations with the United States,” it said in a statement.
Russia, it added, was interested in “preventing an irreversible deterioration in relations”.
“The most important thing for us is to identify ways of rectifying Russia-US relations, which have been going through hard times as Washington has, as a matter of fact, brought them to a blind alley,” it said.
What did President Biden say?
Mr Biden told ABC he had warned Mr Putin about a potential response to alleged election meddling during a call in late January.
“He will pay a price,” Mr Biden said in the interview, broadcast on Wednesd