Supporters roamed the streets in vehicles and motorcycles in Caracas after the announcement, waving red flags and honking horns to celebrate the victory. Fireworks were lit across the city.
Chavez, in his signature red shirt, led the supporters gathering in front of the balcony of his presidential palace singing the national anthem.
"Today we opened wide the gate to the future," he told the supporters, and "truth and dignity have triumphed" in Venezuela.

"Unless God disposes otherwise, unless the people dispose otherwise, this soldier is already a candidate," he claimed.
Chavez has been seeking to stay in power to continue his economic and social development programme which he considered have achieved results but have not been completed.
A total of 16,767,511 people registered at the CNE cast their votes at the voting centers across the country from 6:00 to 18:00 Sunday local time (1030 to 2230 GMT).
The voting process went smoothly in all the 23 states, said General Jesus Gonzalez, who leads the security movement known as the "Plan Republica", told a press conference.
Gonzalez said that several people have been arrested in different states due to felonies against the voting centers.
Chavez was first elected in 1998 and reelected in 2006. He proposed amendments to the constitution to allow him seeking presidency in 2012.
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