Altai Weasel occurs only outside closed forest habitats, typically in alpine meadows and rocky slopes, dry steppes and plains, and river valleys with reeds and bushes (e.g., Heptner et al. 1967, Hornskov and Foggin 2007, Bischof et al. 2014, Ghimirey and Acharya 2014). It is also found in sparse forest vegetation and predominantly open landscape (Kruska 1990). It often occurs close to human settlements and agriculture (e.g,. Ghimirey and Acharya 2014). It is exclusively carnivorous, preying mainly upon pikas Ochotona, various rodents (voles, mice, hamsters), small birds, lizards, and insects (Pocock 1941). It is particularly dependent upon pikas across much of its range (Smith and Foggin 1999). The gestation period is 38-40 days, without delayed implantation. The litter size is 2-6, sometimes (in captivity) up to 13 (Sludsky et al. 1982). It is ground-dwelling, but climbing readily on rock-piles and fallen wood (e.g., Hornskov and Foggin 2007, Ghimirey and Acharya 2014). Despite some statements to the contrary, it is evidently diurnal across much or all of its range (e.g., Tibetan plateau, Hornskov and Foggin 2007; northern Pakistan, Bischof et al. 2014; Nepal, Ghimirey and Acharya 2014).

Altai Weasel is found in central and east Asia, with a range comprising China; Pakistan; the Himalaya in India (Kashmir eastward to Arunachal Pradesh), Nepal and Bhutan; eastern Kazakhstan, Kyrgyzstan, Tajikistan, Mongolia and parts of Russia (southern and south-eastern Siberia, Primorski Krai) (Wang 2003, Wozencraft 2005, Choudhury 2013, Bischof et al. 2014, Ghimirey and Acharya 2014). Ladakh, India, is often omitted from the range but it is found there regularly (Ben-Yehuda in prep.). The proximity of some records in Pakistan to Afghanistan (Bischof et al. 2014) suggests that it will also be found to occur in Afghanistan. It has been said to inhabit DPR Korea (Wozencraft 2005) but this appears to be based on a prediction, albeit a plausible one given the proximity of some records in China to Korea (Won and Smith 1999). 

This species's altitudinal use varies across its range. It is found in North-east India mostly from 1,500 to 4,500 m (Choudhury 2013). A recent series of records from Nepal was at 3,970-4,890 m, despite approximately equal search effort above and below 4,000 m (Ghimirey and Acharya 2014). On the Tibetan plateau, Hornskov and Foggin (2007) observed it over 2,300-4,700 m. Further north, it occurs down to the lowlands: in Kazakhstan it occurs from plain river valleys (340 m) up to 3,000 m in mountains of Dzhungar Alatau (Sludsky et al. 1982), whereas records from Russian Far East (the plains near Lake Khanka) are at elevations of about 80-100 m (A.V. Abramov pers. comm. 2014).

The population in the Russian Far East (Amur Province, Primorski Krai) is listed in the Red Data Book of Russia (2000). In China, the species is listed as Near Threatened (GMA Small Carnivore Workshop 2006). This species is listed in Schedule II part II of the Indian Wildlife (Protection) Act, 1972 and Appendix III of CITES (India). It is protected by law in Sichuan, China (Li et al. 2000). It occurs in many protected areas. Provided the integrity of these is maintained, it is not a risk of extinction, notwithstanding the major declines driven by various agricultural reasons outside the protected area system.