Venezuelan President Hugo Chavez has won a referendum to make constitutional amendments that would allow him to run after his second term expires in 2012.

National Electoral Council chief Tibisay Lucena announced the result of the poll, which was held Sunday.

"The 'Yes' option had 6,003,594 votes - 54.36 percent, the 'No' option had 5,040,082 votes - 45.63 percent."

Sunday's victory has lifted the term limit for elected leaders and paved the way for President Chavez to continue with his socialist reform in the country. Chavez says he is ready for the task ahead.

"I am ready, with today's victory we start the third historical cycle of the Bolivarian revolution, from 2009 to 2019."