Officials said they will have to import 50 million rolls to meet the demand of what Trade Minister Alejandro Fleming called a "nervous population," according to a translation of an article from the state-run AVN news agency.
The government blames the media for provoking fears about scarcity, which prompted consumers to hoard TP.
But businesses and political opposition blame the government's policies, like price controls on basic goods - many of which are reportedly in short supply.
After meeting with Venezuelan paper company PAVECA, which agreed to increase its output, Fleming told AVN he will move to "saturate" the market to alleviate the problem.
AVN reports the typical monthly consumption of toilet paper in the country is 125 million rolls.