CFA commander Dave Cotterill said crews were first called to the scene at 11.10pm and arrived to a structure and fuel fire between Broadford and Tallarook.
It is believed the B-double’s brakes caught fire and the driver attempted to extinguish the flames before calling for help, Commander Cotterill said.
He said the truck contained about 30,000 litres of various flammable liquids including oil and turpentine, which contributed to the ferocity of the blaze.
The driver was not injured in the fire.
The scene was declared under control at 3.40am the following day, and the final vehicles left the scene about 6.45am.
A CFA spokesperson said a total of 23 CFA vehicles from nine brigades attended, including Wallan, Wandong, Seymour, Strath Creek, Avenel, Hilldene and Broadford.
Fire Rescue Victoria, SES, police and ambulance officers also attended the scene.
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