The 37-year-old actor - whose divorce from Katy Perry was officially finalised on Saturday - has been seeing Isabella Brewster, the younger sibling of the 'Fast & Furious' star, for a few weeks and is said to be "really" keen on the brunette beauty.
An insider told Us Weekly: "It's been going on for a few weeks. He really likes her.
"She's cute. She is all over him and Russell loves it."
The couple were spotted walking near Pacific Palisades Market in Los Angeles on Sunday, and Russell had his arm lovingly draped over Isabella's shoulders.
But the 'Rock of Ages' star is not the first actor the former CAA talent agent has dated after she previously romantically involved with 'The Hangover' star Bradley Cooper in 2009 and Milo Ventimiglia - who played the titular character's son in the sixth and final installment of the 'Rocky' film franchise - in 2010.
While filming his new show 'Brand X' in Los Angeles this week, Russell poked fun at his ex-wife - who he was married to for 14 months - and admitted he's had "enough ass-ache from people called Katy".
An audience member said: "Russell was bantering with the audience, in particular a couple called Curtis and Katy. He got onto the subject of their sex life. Katy was giving as good as she got.
"Then, all of a sudden Russell shouted, 'Anyway, enough of you. I've had enough ass-ache from people called Katy in the last year.' "
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