The suspect, identified only as Serhii P. under Polish privacy laws, allegedly tried to kill a representative of Ukraine's arms industry in Irpin near the Ukrainian capital Kyiv, news agencies reported.
"The investigation revealed that Serhii P. planted an improvised explosive device under a car used by the potential victim," Poland's Internal Security Agency (ABW) said in a statement.
The device was designed to be detonated remotely by cell phone, but failed to explode because of a malfunction, the agency said.
The 63-year-old suspect then fled to Poland, where he was arrested in Warsaw on August 5, according to the ABW.
He was charged with attempted murder using explosives and possession of explosives without a required permit.
He faces at least 15 years in prison or life imprisonment if convicted, prosecutors said.
"The case demonstrates that Russian intelligence services conduct operations that transcend national borders and utilise individuals travelling between countries," the ABW said.
The arrest comes amid heightened concerns in Europe over suspected Russian operations targeting people viewed as hostile to the Kremlin.
Earlier this week, Russian opposition figure Sergei Vlasenko was found dead in his Warsaw apartment. Polish prosecutors said on Thursday that an autopsy had found no indication of foul play.
Polish authorities said last week that they had arrested a Russian man who was recruited by Russian intelligence to kill a US citizen of Ukrainian origin in Warsaw.