The Cato institute has awarded the 2008 Milton Friedman prize for Advancing Liberty to Yon Goicoechea.

Goicoechea was the key organizer of Venzuela's pro-democracy student movement. This movement has several victories to its credit including a successful campaign against President Hugo Chávez efforts to establish dictatorial power. The movement had first mobilized in response to a government order to shut down the country's oldest private television station.