Vice President Nicolas Maduro announced it on Tuesday in a national broadcast.
According to him, Chavez died at 4:25 p.m.
Maduro teared up as he announced the news.
He died at 58 after developing ‘severe infection’ during battle with cancer.
He was elected as the youngest president in Venezuelan history at the age of 44.
Hugo Chavez used oil wealth to fight poverty.
Chávez held his position as the president from 1999 until his death today (2013). He was formerly the leader of the Fifth Republic Movement political party from its foundation in 1997 until 2007, when he became the leader of the United Socialist Party of Venezuela (PSUV).
Following his own political ideology of Bolivarianism and “socialism of the 21st century”, Chavez focused on implementing socialist reforms in his country as a part of a social project known as the Bolivarian Revolution, which has seen the implementation of a new constitution, participatory democratic councils, the nationalization of several key industries, increased government funding of health care and education, and significant reductions in poverty, according to government figures.
Vice President Maduro will succeed Chávez as interim president, but must hold an election within 30 days.
A look at the life of Hugo Chavez