A female Siberian flying squirrel weighs about 150 grams, the males being slightly smaller on average. The body is 13–20 cm long, with a 9–14 cm long flattened tail.

The eyes are large and strikingly black. The coat is grey all over, the abdomen being slightly lighter than the back, with a black stripe between the neck and the forelimb. A distinctive feature of flying squirrels is the furry glide membrane or patagium, a flap of skin that stretches between the front and rear legs. By spreading this membrane the flying squirrel may glide from tree to tree across distances of over a hundred metres.