Due to start in June, the direct flights will connect the Latvian capital to the future Winter Olympics destination.
Sochi will host the international competition in 2014; the first time Russia has done so since the 1980 Summer Games were held in the then Soviet Union city of Moscow.
The Black Sea Olympic resort is expected to boost the number of tourists heading to the town, which already boasts a thriving sports and leisure industry.
Commenting on the new route, airBlatic president and chief executive Bertolt Filck, said: "Sochi is a wonderful destination, because it offers all types of recreation, whether swimming, skiing, beaches or mountains. We are delighted at this new route, which supplements airBaltic’s network of routes to the East.
"This is actually not a new route, it is a renewed one. Flights from Riga to Sochi were available until the beginning of the 1990s."
airBaltic’s flights to Sochi will operate twice a week between between the two destinations.