Inflation is a process of continuous increase in prices or continuous decrease in the value of money. If inflation is extremely high, that is, if it exceeds 50% per month or 1000% per year, it is called hyperinflation. Hyperinflation is a particularly devastating type of inflation that disrupts the country's economy and very often leads to major changes in the country's monetary policy or the introduction of a completely new monetary system. Although not a common occurrence in reality; economic history records 57 cases of hyperinflation. Hyperinflation is often caused by a significant increase in the money supply that is accompanied by economic growth. The money supply increases due to the creation and emission of more money into the domestic economy or to cover the budget deficit. After processing the concepts related to inflation and hyperinflation, the goal of this final paper is to explain the development of hyperinflation in Venezuela, its causes and consequences, and possible ways of stabilization. Hyperinflation in Venezuela started at the beginning of 2016 and reached its peak in 2019. The annual inflation rate of almost 350,000% has crushed the Venezuelan economy and the value of the domestic currency, the bolivar. Literature research has shown that hyperinflation in Venezuela is caused by excessive dependence of the Venezuelan economy on international oil prices and corruption and lack of monetary discipline within the government in creating money and controlling prices and currencies. In previous cases of hyperinflation around the world, the most effective stabilization policies were dollarization and a currency board.