The 27-year-old fencer rode atop a truck through the streets of Caracas, wearing his medal and waving to a crowd.
He was met at the airport by dozens of cheering fans amid flags and balloons. Limardo was overcome with emotion at the airport and said through tears: "I never imagined they'd receive me like this."
President Hugo Chavez has declared Limardo a national hero.
Limardo's gold medal was Venezuela's first since boxer Francisco "Morochito" Rodriguez won gold in the light flyweight division in the 1968 games.