This is an epic victory for Daniel Andrews and Labor, and a crushing loss for Matthew Guy and the Liberal Party brand.

By the time the final votes are tallied, Labor could win 61 seats in an 88-seat Victorian parliament – that is 16 more than it had before Saturday - with Mr Andrews returned for a second term as Premier.

What we have seen is not just a repudiation of the local Liberal party, the Victorian Liberal Party, but a repudiation of the Liberal Party brand.

The Liberal Party has suffered a crushing loss this evening. (9NEWS)

Going back to the Liberal Party leadership spill in August, they saw a crashing in their tracking polling of plus 1 percentage points down to about minus 17 points - and they have pretty much stayed there since.

One of the things we have taken from this result is the Coalition trying to go back to the base it keeps talking about, which means they are disconnecting themselves from mainstream Australia.

We have also seen that the Liberal Party’s base in Victoria, if it is going to be that conservative, is about 30 percent. The Liberal Party cannot win the federal election with a number that doesn’t have a “4” in front of it.

We have seen the people of Victoria are waiting with baseball bats for Scott Morrison and the Liberals when they turn up for the next federal election.

Daniel Andrews has enjoyed an epic victory. (9NEWS)

The other big losers are the Greens. The heartland of the Greens has been ripped out by the Labor Party. The Greens look like they might lose all the three seats they had, where they were expecting to make gains.

It has been a great night for Labor, not a great night for the Greens and a dreadful night for the Liberals and the Coaltion.

Again, this sends a message to Canberra, but it’s hard to see how they’ll respond.

History could repeat itself next federal election. (9NEWS)

We’d see at least the loss of five seats in Victoria, eight in Queensland, four in Western Australia, and Bill Shorten - at this stage - is heading towards an epic victory next year that will rival the victory we saw of Bob Hawke.

This has a long way yet to run.

What Daniel Andrews said claiming the win

"They have, in record numbers, at the same time rejected the low road of fear and division. And for that I am very, very proud.

"We are the most progressive government in the nation. We are the most progressive state in the nation.

"We live our values, we keep our promises and we get things done."

What Matthew Guy said conceding defeat

"Tonight is clearly not our night. For all those people who voted for us around the state, I say thank you very much.

"Thank you for keeping the faith. Every day in opposition is a day closer to government and while tonight is not our night, we know that, we acknowledge that, we accept that.