Venezuela's pro-government Constituent Assembly has ordered fresh elections before the end of April.
The call for new Presidentials has been one of constant demands of opposition to resolve political and social crisis in which Venezuela is immersed.
The ANC has since approved his proposal.
Should the presidential vote be perceived as fraudulent, further foreign sanctions could come, including from US President Donald Trump who has made opposition to Maduro a prominent feature of his foreign policy.
"If the United Socialist Party of Venezuela. believes that I should be the presidential candidate".
"Today, tomorrow, in the past, the only great truth is that this government and its leadership is abhorred by the vast majority of Venezuelans", former presidential candidate Henrique Capriles wrote on Twitter.
Maduro, a former bus driver and foreign minister under the former president Hugo Chavez cabinet, took over in 2013 after Chavez died battling cancer. Now Supreme Electoral Tribunal must set specific date of elections.
After the announcement, the president of Venezuela, Nicolás Maduro, assured that if the people and the socialist movements decide on it, he will place his candidacy in the presidential elections in their hands.
Venezuelan President Nicolas Maduro said that he was ready to contest the elections and bid for a second term.
The opposition achieved its most important triumph in December 2015, when it took control of National Assembly, a legislative body that Chavismo has disabled with creation of Constituent Assembly. While elections can be held any time before then, voting typically is held in the final three months of the year to avoid an extended transition. The opposition plans to hold primaries to choose a candidate, but the hasty presidential vote may make that tricky.
European Union headquarters said in a statement Monday that the move "was adopted as the political, social and economic situation in Venezuela continues to deteriorate".
"Despite the obstacles to the opposition right now, it's to their advantage to get behind a single candidate and encourage people to vote, even though the deck is stacked against them", he said. The name of Lorenzo Mendoza, billionaire head of private food company Polar, is on many people's lips, but he has given no indication of wanting to stand.