Venezuelan President Hugo Chavez said on Sunday that his country was ready to help Chile which was hit Saturday morning by a magnitude-8.8 earthquake.

"Venezuela is at Chile's order in this tragic situation and put to its disposition of all the human and material means we have, which could be used to save human lives and repair the damages caused by this terrible earthquake," Chavez said Sunday.

On Saturday, Chavez said in a statement issued by the Venezuelan Foreign Minister that "Venezuela's heart is with Chilean people."

An 8.8-magnitude tremor rocked Chile at Saturday morning, razing homes and hospitals, and triggering a tsunami.

On Sunday, Chilean President Michelle Bachelet said the earthquake's death toll rose to 708.

Unlike Haiti which was also struck by a quake recently, Chile said it can handle the relief efforts for the moment and hasn't asked for any external help.