The 38-year-old comedian has arranged to take his beau Jemima Khan on a private ferry ride across the River Mersey at midnight following his gig in Liverpool, North West England, tonight (14.02.14).
A friend of the pair told the Daily Star newspaper: "Jemima has been to a few of Russ's gigs, but mainly around the London area. She hasn't ventured up north too much.
"But tonight will be different as it's their first Valentine's Day together as a couple, and they didn't want to spend it apart."
The 'Get Me To The Greek' star has also planned for a beautiful candlelit dinner on the boat, before whisking his lover off to St John's Tower in Liverpool to look over the starlit city.
The source explained: "On the boat ride he's planning a candlelit picnic for his sweetheart, and then afterwards they'll head to the top of St John's Tower.
"It's nearly 500ft tall and the views at night are amazing.
"Because it's used as a radio station, Russ reckons his DJ connections will secure them a private area for hanky panky."
Russell - who was married to Katy Perry in 2010 before divorcing almost two years later - is determined to spoil Jemima and prove to her that he can be romantic.
The source said: "Whatever Russ decides on, you can bet it'll be a night to remember for Jemima.
"He doesn't do things like this by halves.
"He really wants to show her just how romantic and serious he can be."