President Chavez wants to extend his "socialist revolution"

As he took the oath, Mr Chavez said he would give up his "entire life to the construction of Venezuelan socialism".

The president has already promised to extend his "Bolivarian revolution" and called on the National Assembly to give him the power to rule by decree.

After the ceremony he flew to Nicaragua for the inauguration of President-elect Daniel Ortega.

'Socialist credentials'

Before the swearing-in, Mr Chavez laid a wreath at the tomb of 19th-century South American independence leader Simon Bolivar.

In front of a full Congress, Mr Chavez was sworn in to chants of "Long live socialism".

Mr Chavez broke with tradition and wore the presidential sash over his left shoulder, instead of the right, in what he said was a symbol of his socialist credentials, Reuters news agency reported.

"I swear on Christ, the greatest socialist in history; I swear on all this; I swear on all grief; I swear on all love; I swear on all hopes," Mr Chavez said.

He also repeated his desire for a constitutional amendment that would scrap limits to the number of consecutive terms a president can serve.

This would allow him to run again for office after his new term expires in 2013.