In 1854 two organisations formed with similar aims and membership, these being the Victorian Institute for the Advancement of Science (founded 15 June, 1854, inaugural president Justice Sir Redmond Barry) and the Philosophical Society of Victoria (founded 12 August, 1854, inaugural president Andrew Clarke).
In 1860 the RSV organised the ill-fated Burke & Wills expedition under the Presidency of Victorian Governor Sir Henry Barkly.
Located in its heritage-listed headquarters at 8 La Trobe Street, in the centre of Melbourne, the Society's modern role is to communicate and advocate for the important role of science in society, providing public lectures about the latest scientific work and thinking underway in Victoria, and convening forums with government and community to explore an evidence-based approach to issues facing the state.
[9] The Society confers prizes, awards and medals to recognise high-achievement throughout a scientist's various career stages.
Peak career achievements are recognised through the annual award of the RSV Medal for Excellence in Scientific Research.