The state recorded 22,429 new COVID-19 cases and six deaths on Monday, including 12,059 infections confirmed from PCR tests and 10,370 from RATs.
The figures represented a drop in almost 6000 cases from the previous day, and more than 12,000 fewer infections than the daily figure one week ago.
However, Chief Health Officer Brett Sutton said, with one in three PCRs coming back positive for COVID-19, Victoria's case numbers may not have peaked.
"There's a lot of uncertainty, but I do think we're reasonably close to a peak," he told reporters on Monday.
"We've got a high proportion of PCR tests coming back positive, so that does mean there are a lot of people out there who don't know their status."
He said there were "a lot" of undetected COVID-19 cases in the state, as he pleaded with Victorians to continue to get tested for the virus.
The number of patients in hospital with COVID-19 has been growing daily, rising by 115 to a record 1229 patients on Monday.
Intensive care numbers are also rising, with 129 patients in ICU on Monday, seven more than the previous day, and 38 on ventilation, an increase of three.
Professor Sutton said hospitalisation numbers were also yet to hit their peak, as he predicted that may not be reached for a month.
He said there was a "lag" of about two weeks between the case numbers and hospital admissions, and then three weeks for that to translate to ICU figures.
"That will peak sometime in February, maybe mid-February, but it's hard to know until we really see what the peak in case numbers is going to be."
Deputy Premier James Merlino said eight community groups were successful in receiving a share of $1.2 million in funding to support the COVID-19 vaccine rollout.
They included The Huddle and community support groups in Brimbank, Melton, Dandenong, Casey and Cardinia.
Meanwhile, three million rapid antigen tests are being distributed to essential workers in health and aged care, disability and emergency sectors from Monday, the first to arrive from a bulk order of 44 million.
Victorians with pre-existing conditions, which make them susceptible to severe illness, will also be prioritised for a RAT, as will 60 community and multi-faith organisations.
The state will also on Monday begin transferring up to 300 patients to two new medi-hotels to free up hospital beds.
Two Melbourne quarantine hotels - Pullman on Swanston and Mantra in Epping - have been transformed into medical facilities to treat COVID-19 patients.
3°C