Treasurer Josh Frydenberg has claimed victory in his blue-ribbon seat in Melbourne's east while other high-profile seats across the state remain too close to call.
The Liberal MP fended off a challenge from human rights lawyer and Greens candidate Julian Burnside and Liberal-turned-independent Oliver Yates.
"Scomo deserves so much credit for tonight's result," Mr Frydenberg said of the Prime Minister on Saturday night.
"He has been tireless, criss-crossing the country, and selling our message to the Australian people."
Other hotly contested seats include Higgins, which includes some of Melbourne's wealthiest suburbs, and has only been held by the Liberal party.
Prime ministers Harold Holt and John Gordon held the seat, as well as former treasurer Peter Costello, who passed the baton to Kelly O'Dwyer in 2009. She announced her retirement from politics earlier this year.
Despite the competition Liberal candidate Katie Allen said the result was too close to call on Saturday night.
Labor's candidate, Fiona McLeod said she was "exhilarated" by the result so far.
The seat of Indi, in the state's north is also likely to return to the Liberals after high-profile independent Cathy McGowan claimed it in the 2013 election.
"I'll be speaking to whoever can negotiate well on those issues, not just for Indi but also for rural Australia," the Liberal Indi candidate Helen Haines told the Nine Network.
But the election campaign also been marred by controversies in some seats.
In Chisholm a formal complaint was lodged after how-to-vote posters in Mandarin appeared, printed in the same colour and font as the Australian Electoral Commission, instructing voters to put the Liberal party first.
Posters of defaced posters in Deakin, were also the subject of serious concerns with the Labor candidate Shireen Morris tweeting images of her posters depicting her wearing a niqab.
"Using Islamophobia to try to secure votes... disgraceful," she said.
Southwest of Melbourne lies the coalition's most marginal seat, Corangamite, taking in Greater Geelong and held by Sarah Henderson by just 0.03 per cent after a redistribution made it notionally Labor.
On Victoria's Mornington Peninsula, another Liberal-turned-independent, Julia Banks, is going after Health Minister Greg Hunt, who holds the seat of Flinders on a margin of about seven per cent.
Also, the Melbourne electorate of Cooper is due to choose its first MP since changing its name from Batman.
Labor member Ged Kearney has held the seat since a 2018 by-election, with climate change again seen to be a key issue.