Chavez won a third presidential term earlier this month. He will lead the Latin American country for another six years.
The 58-year-old won re-election in the Oct 7 polls with 54.6 percent of the vote, defeating opposition challenger Henrique Capriles.
"I believe that Chavez became the best variant for Venezuela, but I also think that Chavez should start looking for a successor," said Lula da Silva, who ruled Brazil between 2002 and 2010.
Lula da Silva said Venezuela greatly benefitted under the rule of cancer-stricken Chavez and the course of his domestic and foreign policies should be maintained after his leaves his post, although the Constitution allows him to run for the fourth term.
Chavez, who has ruled Venezuela for 13 years, underwent three operations for cancer in the pelvic region and four courses of chemotherapy in Cuba and Venezuela within a year.
Mexico: Brazil's former president Luiz Inacio Lula da Silva has suggested Venezuelan President Hugo Chavez should start looking for a successor.
First Published: Saturday, October 20, 2012, 11:21