She said she was grateful and honoured to receive the nomination and be slected by the Victorian Labor caucus on Saturday.

"It's a big job and I am looking forward to it," she said. "I have been deputy speaker for for five years and this is the next step up.

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"It's very exciting, obviously there is a bit more work required but I am confident it is something I am up to doing.

"There is always a process to go through and that was worked through smoothly.

"Once Colin Brooks put his name forward be in the ministry, it was clear there was a vacancy. Given I have been deputy speaker for five years, it was natural to put my hand up."

Ms Edwards must now be elected by the house when parliament next sits in August.

"I don't get to be speaker until the house sits in August and I need to be elected by the house. So that is another process," she said.

"Until that time I will continue as deputy and expect I will be doing some of the jobs that normally fall to the speaker outside the parliament."

Ms Edwards selection came after Bendigo East MP Jacinta Allan was selected as deputy premier by the Victoria Labor caucus

"It's fantastic to have my friend and colleague Jacinta Allan as deputy premier," Ms Edwards said. "I am very confident she will be an outstanding deputy premier."

NEWLY appointed Victorian deputy premier Jacinta Allan said she plans to bring the same approach to her new role as she has through her entire political career. Work hard.

Ms Allan was appointed the deputy premier on Saturday morning following a Victorian Labour caucus meeting.

"I am extremely humbled to have received the unanimous support of my caucus colleagues," she said. "I'm grateful for their support and look forward continue the work of Daniel Andrews and most importantly of Bendigo.

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"My approach to being member of parliament is to work really hard and take nothing for granted.

"When I first entered parliament, and more recently, I never planned or aimed to do these things. My approach is to do job allocated to you."

Ms Allan was youngest elected female politician in Victoria after being elected in the 1999 state aged 25.

She is also the longest serving female minister in Victorian history.

"The best job I have got is Member for Bendigo East, that motivates me to keep going every single day.

"It is a privilege to be able to represent the community I was born and grew up in and am now raising children my children in with my husband.

"That's motivation that keeps me going."

Ms Allan said she expects her day-to-day role will involve more meetings and working closer to Premier Daniel Andrews as well as supporting her caucus colleagues.

"I'll just take every day as it comes," she said. "To serve as minister in a (cabinet) led by the energetic and dynamic Daniel Andrews is a fabulous motivator."

Ms Allan was also celebrating Bendigo West MP Maree Edwards being named speaker.

"It's fabulous to have my friend Maree be our caucus nomination for the speaker's role," she said. "She has performed strongly as deputy speaker and will be an outstanding speaker.

"Hopefully our central Victorian community can have pride in their members of parliament."

Ms Allan said she believed the Labor party was in a strong position ahead of the state election in November.

"We're in really strong position to have five minister with long periods of parliamentary and ministerial service be able to signal they are stepping down from roles (and have) other ministers with experience step in and take those roles," she said.

"I was given the opportunity as a young woman by Steve Bracks to become a minster.

"Those opportunities give you the chance to develop your skills.

"We have a depth in our caucus and have seen that today with strong caucus members go into our cabinet go on to be senior ministers."

Bendigo East MP Jacinta Allan will take over the role of Victoria's deputy premier from James Merlino.

In a morning of change, Bendigo West MP Maree Edwards was also elected to replace Colin Brooks as speaker.

The changes were unanimously backed at a Victorian Labor caucus meeting on Saturday morning.

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Premier Daniel Andrews put forward Ms Allan as a candidate for the deputy premier role on Friday.

Also on Friday, Treasurer Tim Pallas said, as the senior minister belonging to the Victorian right faction, he would support Ms Allan in the bid for deputy premier.

Ms Allan, like Mr Andrews, is from the party left.

Ms Allan's selection comes following the announcement that four senior Labor ministers would retire and step down from the cabinet.

Education minister Mr Merlino, health minister Martin Foley, police minister Lisa Neville and tourism minister Martin Pakula all announced on Friday they would not contest November's election.

Other changes at the meeting at parliament house on Saturday morning included MPs Lizzie Blandthorn, Colin Brooks, Steve Dimopoulos, Sonya Kilkenny and Harriet Shing been picked to fill the ministerial vacancies.

Natalie Suleyman will become deputy speaker alongside Ms Edwards.

Mr Andrews said the allocation of portfolios will be announced later on Saturday or some time on Sunday.

The new ministry will be sworn in at government house on Monday and the exact allocation of portfolios could be announced as early as Saturday.

Ms Edwards was elected as member for Bendigo West in 2010 and has been deputy speaker since 2017.

More to come

- with AAP

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