The Odalisque in Red Pants, valued at about $3 million, went again on display at the Museum of Contemporary Art in Caracas on Tuesday.
It wasn't until 2003 that Venezuelan authorities were notified that the painting was missing and had been replaced with a fake sometime between 1999 and 2002.
An FBI undercover operation recovered the Matisse in Miami Beach in 2012.
U.S. citizen Pedro Antonio Marcuello Guzman and Mexican citizen Maria Martha Elisa Ornelas Lazo were convicted for attempting to sell the stolen painting. The theft is still under investigation.