From the 1998 election of Hugo Chávez Frías as president until his death in March 2013, Venezuela went through significant changes. The launch of a political project geared toward the establishment of “socialism for the twenty‐first century,” underwritten by the abundant oil revenues since 2002, meant an unprecedented transformation in Venezuela. There was also a radical change in the country's foreign policy in the transition from the pre‐Chavez Venezuela to the Bolivarian Republic of Venezuela. This article analyzes part of the political legacy left by Hugo Chávez, the new objectives and values, new strategic orientations and priorities, and the transformation of the institutions charged with carrying out this foreign policy. It focuses on the Ministry of the Popular Power (Poder Popular) for External Relations of the Bolivarian Republic of Venezuela, and the creation of a set of intergovernmental organizations at the regional and international levels, particularly the Bolivarian Alliance for the Americas, that support the promotion of international solidarity with the revolutionary process led by President Chávez. While the main aspects of Hugo Chavez's approach to politics and foreign policy continue to be enforced today, serious economic and social deterioration linked to the decline in international oil prices has led to major challenges to Venezuelan regional leadership in recent years, reflected in recent changes to its foreign policy.