The incident took place around 6 p.m. Monday. The prisoners used disposable razors to cut their veins.
"All convicts received medical treatment and their lives are not in danger," the authorities said. "Security in prison has been tightened and the situation is under control."
A team of investigators, led by Yakutia's deputy chief prosecutor Boris Samoilenko, will investigate the incident and check for possible violations of inmates' rights by prison authorities.
Harsh conditions in Russian prisons have been subject of criticism by domestic and foreign human rights organisations and officials for years.
The US Department of State country reports on Human Rights Practices for 2011 says, "the conditions of prisons (in Russia) constituted a major violation of the human rights of many prisoners, who were subjected to poor medical care, lack of basic human needs, and abuse by prison officials."
Russian authorities deny these accusations as "groundless".