The monument was built by Nicolas Maduro in San Felix city in eastern Bolivar State in July to commemorate his birthday.
Maduro is known for carrying the legacy of Chavez in Venezuelan politics.
The country has been rocked by protests since Jan. 10 when Maduro was sworn in for a second term following a vote boycotted by the opposition.
A grand protest by the opposition-led National Assembly will be held at 7.30 p.m. local time (0400 GMT) calling for free and fair elections.
On Monday, 27 soldiers calling for an uprising against the government were arrested in the country