Maracaibo Syllabification: (Mar·a·cai·bo)Pronunciation: /ˌmarəˈkībō/Definition of Maracaibo a city and port in northwestern Venezuela, situated on the channel that links the Gulf of Venezuela with Lake Maracaibo; population 1,891,800 (est. 2009). Maracaibo in other Oxford dictionaries Definition of Maracaibo in the British & World English dictionary