Los Guaraguao will be feted at the International Book Fair of Venezuela (Filven) following the band's humiliating detainment in and deportation from Honduras.
Culture minister Ernesto Villegas says the Venezuelan Government will celebrate the quartet in a bid to restore dignity to the members of the group, who were refused entry and expelled from Honduras.
The band will close the event, which is being held at the Teresa Carreno theater in Caracas.
On Friday, Los Guaraguao arrived in Venezuela after being detained for 18 hours by immigration authorities in San Pedro Sula.
According to teleSUR correspondent Eduardo Martinez, the group was told they would be allowed to travel on to El Salvador but were then informed they would be directly deported to Venezuela, after they had arrived in Panama.
The band was received by President Nicolás Maduro following their expulsion from the Central American country.
Venezuela's Foreign Ministry told VTV that the "behavior by the Honduran government seeks to silence the singing of Los Guaraguao.
"They (Los Guaraguao) are highly appreciated in Central America, which has admiration for the musical production of protest. They are the pride of generations of Venezuelans."
According to relatives of members of the group, the band was confined to an enclosed area and not allowed to leave.
Los Guaraguao was scheduled to perform at an Alliance of Opposition campaign in Honduras.