The video shows president Castro - who is recovering from intestinal surgery and appeared thinner healthier than in past footage - lying on his back and reaching to shake hands with president Chavez, then sitting up to kiss an unidentified girl.
Wearing a dark red bathrobe, Mr Castro hosted president Chavez for a morning meeting that lasted more than two hours, government media reported.
In the video both leaders read written statements to each other.
"In the march towards victory, we shall prevail," they both said in unison facing each other, repeating a well-known leftist slogan.
No pictures or video of Castro have been seen in Cuba since August 14.
President Chavez visited Mr Castro on a stopover in Havana on his return from a 10-day trip to China, Malaysia, Syria and Angola.
"Fidel has recovered quite well," president Chavez later told a crowd of thousands of admirers in downtown Caracas.
"This morning, we talked more than two hours. We analysed the world situation along with Raul Castro and other Cuban and Venezuelan comrades."
"We awakened this morning in Cuba, to visit comrade Fidel Castro, who asked me to send along a revolutionary salute. Long live Fidel! Long live the Cuban revolution!" president Chavez shouted.
He said that Castro made several phone calls and hand wrote a message.
President Chavez visited Castro on August 13 to celebrate the Cuban leader's 80th birthday and again on August 21.
Fidel Castro stunned Cubans when he announced in a statement on July 31 that he was recovering from intestinal surgery and had temporarily ceded power to Raul, 75, his constitutionally designated successor and the nation's defence minister.
Chavez announces 2010 referendum
In separate developments, President Chavez has announced plans for radical political change in Venezuela.
The president said he would call a referendum on the question of allowing indefinite presidential re-elections and a plan for a socialist Venezuela.
"In the year 2010, when I am three years into my next term, I will call a referendum. I will call a referendum to ask Venezuelans at least two questions," he said.
The year 2010 would come three years into Chavez' next term, assuming he is re-elected in three months.
Re-election would require an amendment of the Constitution, which was written and ratified under his careful watch.
He added that his new presidential term would mark a new phase of his economic and political plan, to transform Venezuela into the Venezuelan Socialist Republic.
"Now, between 2007 to 2021, we have 14 years to plant, deepen the roots and extend the revolution in all directions so that Venezuela becomes the Socialist Bolivarian Republic in every way, for true equality, liberty - a democracy that is deep, of the people, participatory and proactive," he said.
President Chavez named his plan after Simon Bolivar, liberator of Venezuela and much of South America.