Posing as Elton John in the Venezuelan president's memorial service, Timberlake sang a Chavez-insipred version of "Candle in the Wind."
"Hello Caracas... I should confess I didn't know Hugo Chavez very well," said Timberlake impersonating John. "But as the saying goes, 'Hey a gig is a gig.' I did a bit of research and it turns out President Chavez was quite a complex man. So here goes, everything in this song is true."
Timberlake's song parodied many of Chavez's infamous decrees, comments and his government's impact in Venezuela. Among the references used in the song were the time he called George Bush the devil, when he banned Coke Zero and his odd TV show, "Alo Presidente."
"You lived your life like a candle in the wind... if a candle could pull out two pistols at a press conference," sang Timberlake. "You said the U.S. causes earthquakes and you outlawed Coke Zero. And on your shoulder stood your parrot with a matching red beret. ... You helped to make a country the kidnapping capital of the world. ... You were a hero to your people and you never gave up a fight. We'll Miss you Hugo Chavez, because Live from New York, it's Saturday Night!"
The "Saturday Night Live" ratings from Timberlake's fifth time as host -- which was a special edition that featured everyone who's hosted the show five times -- were the highest the show has had in over a year.
2014: The Year in Music [PHOTOS]