Taxi and hire car drivers displaced by the rise of Uber intend to launch a multimillion-dollar class action against the ride-sharing giant.

Law firm Maurice Blackburn said taxi drivers had experienced "severe financial losses" at the hands of Uber, which they allege operated illegally in Victoria between 2013 and August this year.

Class action principal Ben Slade accused Uber of conspiring to disrupt the market while circumventing "quite clear" Victorian transport laws.

"Taxi and hire cars had to pay licence fees and follow regulation and Uber completely ignored it," Mr Slade said.