The Civil Defence said late Saturday 43 people were taken to hospital and that it had treated at the scene 114 others who were "slightly injured or suffered from breathing problems".
Security forces said they had opened a probe after a video shared online showed police beating up people believed to be protesters as they were brought to a Beirut police station.
A worsening economic crisis means many can not find jobs, pay for basic goods, or even withdraw their money from banks.
The clashes intensified throughout the night as more protesters streamed into the area and made repeated attempts to breach the barricade, hurling rocks and fireworks as police fired rubber bullets and teargas that blanketed central Beirut in a milky haze.
Protestors set fire to ATMs, tried to break the windows of banks, and threw stones at police, who responded with tear gas and water cannons.
Lebanese anti-government protesters gather by the barricaded road leading to parliament in central Beirut.
The Internal Security Forces said 142 police were injured.
Zeina Ibrahim, 37, an office manager, said protesters had faced violence from police and attacks from supporters of the sectarian, dominant parties.
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President Michel Aoun met security chiefs on Monday to work out a plan for deterring violent groups that "security services have detailed information on" while protecting property and peaceful protesters, sources at the meeting said.
Saad al-Hariri, who resigned as premier in October, said the violence threatened civil peace. "My earnings have gone down without me doing anything", she said.
This latest, most intense phase of what protesters have called a revolution came as the country's political elites were deadlocked over the formation of a new government that demonstrators have already rejected, and with the country's economy in freefall.
It accused the riot police on January 18 of "launching tear gas canisters at protesters' heads, firing rubber bullets in their eyes and attacking people at hospitals and a mosque".
"The continuation of the caretaker government is not the solution so let's stop wasting time and have the government bear the responsibility", Hariri said.
Last month little-known former minister Hassan Diab was designated prime minister with the backing of heavily armed Shi'ite group Hezbollah and its allies, but a deal on a cabinet has yet to be announced.
But protesters say they want to scrap the old system, and demand only impartial technocrats staff a new government to address their growing economic woes, including a severe liquidity crisis. They blame politicians for widespread corruption and mismanagement in a country that has accumulated one of the largest debt ratios in the world.
Anger at the banks - which curbed people's access to savings - boiled over, with protesters smashing bank facades and ATMs.