The Tánaiste Simon Coveney has said the Irish Government supports Juan Guaidó as interim Venezuelan president.
It comes after a number of EU countries moved to do the same.
Spain, France, Germany, the UK, Austria, Sweden, Denmark and Lithuania have previously announced the move.
They had pledged to make the announcement if the country's president, Nicolas Maduro, failed to call fresh presidential elections within an eight-day period.
Mr Coveney has confirmed Ireland has now joined the other EU nations in recognition.
In a statement, he said: "I have repeatedly called for the urgent holding of free and fair presidential elections in Venezuela in accordance with democratic standards and the Venezuelan constitutional order.
"In line with the common EU position and statement by (EU Foreign Policy Chief Federica) Mogherini... I supported further EU actions, including on the issue of recognition of the country's leadership if fresh elections were not announced.
Juan Guaido (centre), self-proclaimed interim president of Venezuela, marches against the government of President Maduro | Image: Rayner Pena/DPA/PA Images
"In the absence of such an announcement, I join other EU member states in acknowledging and supporting Mr Juan Guaidó, president of the democratically elected national assembly, as president ad interim of Venezuela, in order for him to call for free, fair and democratic presidential elections."
He added: "I am keenly aware of the right of the Venezuelan people to freely choose their future, and am committed to finding democratic solutions that can bring political stability and address the pressing needs of the people."
Mr Coveney said he will speak to Mr Guaidó in person to communicate Ireland's position.
Mr Maduro's time in office has been marked by economic collapse, hyperinflation and shortages of many basic goods and medicines.
The administration of US President Donald Trump severely undermined the socialist leader's power by backing Mr Guaidó, after he declared himself interim president on January 23rd.
Mr Guaido's push for power has now been backed by most Western powers.
Mr Coveney is in Washington DC for meetings with the US Secretary of State Mike Pompeo and Irish-American groups.
