More than $1.17 billion will be used to upgrade 228 public schools around the state, Premier Ben Carroll announced on Saturday.
$500 million would go to upgrades at non-government schools, including $350 million for Catholic schools and $150 million for low-fee independent schools, including $30 million earmarked for Islamic schools.
Under the plan, Bellarine Secondary College, southwest of Melbourne, would receive $35 million for a new indoor sports facility, while Koonung Secondary College in Melbourne would receive $26 million for a new science, technology, engineering, arts and maths centre.
Mr Carroll noted his government had already delivered the best NAPLAN results in the country and built 121 new schools.
"Now we'll upgrade hundreds more to give our kids the best start," he said.
"(Opposition leader) Jess Wilson needs to answer which of these school upgrades would she cut," Education Minister Gabrielle Williams said.
The government also announced a $50 million grants program for security upgrades and larger physical works projects, with a view to opening up more public school facilities to sporting clubs and community groups.
It has already trialled the program at 50 schools in Melbourne's western suburbs, an initiative announced under former premier Jacinta Allan.
"Labor's trial in the west was a success, now we're taking it statewide - so more clubs and community groups can benefit," community sport minister Ros Spence said.
The announcements come as Labor fends off allegations it secretly cut funding from non-government schools.
Ms Wilson made the accusation in a letter to the state's treasury secretary on Wednesday, as the department prepared to release its final pre-election budget health check.
"Victorians are entitled to know the decisions being made in their name," she wrote in the letter shared with AAP.
"We also ask that you also disclose in the (budget update) any other secret cuts or taxes that the Andrews-Allan-Carroll Labor government has failed to tell the Victorian people about."
Labor denied making any cuts, claiming the funding decision was taken to ensure private schools did not exceed their entitlements under the Schooling Resource Standard.
Ms Wilson doubled down on her criticism on Saturday, describing the just-announced school upgrades proposal as "another big promise before an election".
"We saw the same before the last election," she told reporters.
"Dozens of commitments made to schools and we've seen many of those commitments fail to be delivered."
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