Grade five student Jack Davey died after a car ploughed through a fence and into a school yard on Tuesday afternoon, hitting a group of Auburn South students sitting at a table.
Two 11-year-old girls, a 10-year-old girl and a 10-year-old boy were seriously injured and taken to hospital.
Mike Davey described Jack as his beautiful son who provided him with motivation and inspiration.
 "A shooting star who blessed us for 11 years with love, friendship and kindness," Mr Davey posted to Instagram.
"You were my inspiration and motivation.
"I cannot comprehend the life ahead without you.
"My mate, my champ, my Jackie-boi... God speed, until we meet again... I love you. Dad x."
Four other children were taken to hospital after the crash that killed Jack Davey. (James Ross/AAP PHOTOS)
The driver of the SUV, a 40-year-old woman, had just collected her child from the school in Melbourne's east and attempted a U-turn when the crash happened.
The Hawthorn East mother was arrested and released following a police interview, with no charges laid.
On Thursday, it was revealed one child injured in the crash had gone home from hospital and three others remained in a stable condition.
The local council has organised a community support hub at a nearby park set to be open from from Thursday Sunday.
"We invite community members to come together and access support and referral services during this difficult time," City of Boroondara posted to social media.
"Our hearts go out to the families, friends and the entire school community who are grappling with this devastating loss."
The council has organised community support after the death of keen basketballer Jack Davey. (James Ross/AAP PHOTOS)
A fundraiser for the Davey family had grown to about $150,000 by 10am on Thursday.
Organiser Lucy Pristel described Jack as a valued member of the Titans basketball community and Gladiators football club, as well as a keen futsal player.
The money is intended to support the family with costs related to the loss of their son and to allow them to take time away from work.
On Wednesday, Auburn South Principal Marcus Wicher said there had been an "overwhelming" response since the tragedy, with remarkable courage and care shown.
"This school community is so wonderful and strong; together we will get through this," Mr Wicher told reporters.
The school is open and extra support services are available, including extra teachers from neighbouring schools and pastoral and counselling services.
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