Cabinet ministers have approved the plan ahead of federal, state and territory attorneys-general meeting in Darwin on Friday.
The policy would raise the age of criminal responsibility in Victoria to 12 with some exceptions for serious offending, and review another increase to 14 by no later than 2027.
Currently, children as young as 10 can be arrested, remanded and jailed in juvenile detention if found guilty of committing a crime.
The United Nations, child welfare groups, medical experts, human rights lawyers and Indigenous advocates say the minimum benchmark should be no lower than 14.
Earlier this year, Premier Daniel Andrews flagged Victoria would go it alone on the age of criminal responsibility if a national consensus couldn't be reached.
The Northern Territory government is raising the age to 12 in the second half of 2023, while the ACT government plans to lift it to 14 by 2026.
Tasmania intends to raise the minimum age of detention to 14 but keep criminal responsibility at 10.
The Royal Australasian College of Physicians on Friday urged Victorian Attorney-General Jaclyn Symes to listen to the experts and raise the age to 14 with no exceptions.
Its president and pediatrician Dr Jacqueline Small said many children in the youth justice system have significant neurodevelopmental disabilities and mental health needs, which are compounded by incarceration and system contact.
"Children under 14 years may not have the level of maturity and cognitive function to be considered criminally responsible," she wrote.
"Raising the age of criminal responsibility to 14 years is critical to protecting the health and wellbeing of children and young people at risk of incarceration, especially Aboriginal and Torres Strait Islander children and children with developmental disabilities."
First Peoples' Assembly co-chair Aunty Geraldine Atkinson was heartbroken by the prospect of a delay raising the age to 14.
"We know too well the damage that is inflicted when our children are removed from community," the Bangerang and Wiradjuri elder said.
Liberty Victoria said it was a "weak decision from a (government) still paranoid about being wedged on law and order instead of committing to evidence-based reform".