I am uploading videos to YouTube by using YouTube Data API (Python client library). Is it possible to set monetizing for that video from API rather than going to my account on the YouTube website and manually setting monetization for that uploaded video? If yes, then how can I do it from API? I am unable to find it in the API documentation, and Googling doesn't help either.
That's not something that's supported as part of the public YouTube Data API.
Enable Monetization on YouTube video using YouTube API