"The radioactive capsule was found in Yaritagua in Yaracuy State thanks to the intelligence work of the National Guard," the Interior and Justice Ministry said in a statement.
Officials said an investigative police detective, two state security police agents and a salesman were arrested in connection with the theft.
The device contains Iridium-192, which emits powerful gamma radiation and is used for industrial radiography, such as for detecting faults in underground industrial pipes. Two Iridium-192 capsules disappeared in two Venezuelan states in March this year.