Venezuelan authorities say they "dismantled" an anti-government "terror cell" the same day a prominent insurgent posted dramatic videos of a shootout on social media.
Interior Minister Nestor Reverol confirmed Tuesday that security forces killed Perez and seven others when they surrounded a hideout.
The Venezuelan Information Ministry didn't respond to requests for more details on the police operation and whether Perez had escaped, been killed or captured.
The government said gunfire was exchanged and that two police officers were killed.
Perez, an officer in the country's investigative police force, is known for leading a helicopter attack against the Ministry of Justice and the Supreme Court in June.
"Some political leaders gave us information on where to find the terrorist cell", Reverol said.
Oscar Perez made global headlines previous year when he stole a police helicopter and used it to attack government buildings.
"The acts committed by this criminal gang qualify as terrorism, constituting clear and flagrant attacks against democratic institutions", said Reverol, who was flanked by senior military and police officers.
A former elite police officer and a pilot, Oscar Perez has been on the run since June 2017 when he and several unidentified accomplices used the aircraft to throw four grenades at the Supreme Court in the capital Caracas, before shooting at the interior ministry with firearms.
"They are firing at us with grenade launchers".
Perez surfaced online again early Monday in videos - blood dripping across his face - and holed up in a mountainside house.
He appeared with a bloody face in almost a dozen Instagram videos early on Monday, saying he was surrounded by authorities shooting at him with grenade launchers even though he was promising to surrender.
Venezuela President Nicolas Maduro in a televised address Monday night claimed the group was preparing a auto bomb to use against an embassy, without giving details. "We told them that we're prepared to turn ourselves in, but they won't let us".
In numerous videos posted on Instagram, Perez has claimed that he is fighting for Venezuela's freedom from a tyrannical government that is starving its people. "Fight, take to the streets, it is time we are free".
The Venezuelan Program of Education and Action on Human Rights has called for the government to provide a full report.
A nationwide manhunt was launched for Oscar Perez after he targeted a government building in Caracas in protest at dictator Nicolas Maduro's government.
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