Error : ORA-01704: string literal too long

What are you using when operate with CLOB?

In all events you can do it with PL/SQL

DECLARE
  str varchar2(32767);
BEGIN
  str := 'Very-very-...-very-very-very-very-very-very long string value';
  update t1 set col1 = str;
END;
/

Proof link on SQLFiddle

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