Let (g, X) be a Sasaki-Ricci soliton on a Sasakian manifold S. We prove that if (S, g) admits a local Sasakian immersion in a Sasakian space form S(N, c) of constant φ-sectional curvature c, then S is η-Einstein and its η-Einstein constants are rational. Moreover, if c ≤ −3, S is locally equivalent to the Sasakian space form S(n, c) and its η-Einstein constants are determined by c. Further results are obtained in the compact setting, i.e. when c > −3, under additional hypotheses.