The current deputy premier is Ben Carroll of the Labor Party, who has held the position since 2 October 2023.

The deputy premier has always been a member of the Cabinet, and has always held at least one substantive portfolio (It would be technically possible for a minister to hold only the portfolio of Deputy Premier, but this has never happened).

If the governing or majority party had not yet elected a new leader, that appointment would be on an interim basis.

[citation needed] Among the most notable former deputy premiers of Victoria have been Robert Menzies (1932–1934) who went on to become the longest serving prime minister of Australia.

One of Menzies' federal ministers was Wilfrid Kent Hughes who like Menzies had served as deputy premier of Victoria prior to switching to federal politics.