A third man has been charged over the drive-by shooting outside Melbourne's Love Machine nightclub which left two men dead.

Allan Fares, 22, briefly appeared at Melbourne Magistrates Court on Wednesday charged with two counts of murder and three counts of attempted murder, following the deaths of Aaron Khalid Osmani, 37, and Richard Arow, 28, on April 14.

The men were killed outside the Prahran nightclub and four others were injured when a stolen black Porsche SUV sprayed the venue with bullets about 3:10am.

The SUV was later found burnt out in the northern suburb of Wollert.

Fares' arrest comes just days after two others were charged over the shooting.

On Monday, 18-year-old Jacob Elliott was charged with two counts of murder and three of attempted murder and Moussa Hamka, 25, was charged on Sunday with offences including being an accessory after the fact to murder.

Both faced court earlier this week and are in custody.

All three men are due back at court for a committal mention on November 18.

Richard Arow's girlfriend, Rebekah Spinks, was about five metres from him when he was shot outside the club.

She described him as the "strongest man with the softest heart".

"What this has done to the family is actually so catastrophic and it doesn't get any better every day," she told a press conference last month.

The family of security guard Aaron Osmani has also said they remain hopeful to get answers for their "son, brother and friend".

Last month, police revealed a new clue linking a maroon Ford ute to the shooting.

New CCTV footage showed the ute with a silver tray and distinctive bar across the back, which was seen leaving the Wollert area after the Porsche was torched.

Police later revealed they had seized a silver Suzuki Swift seen driving behind the Porsche on the night of the shooting, for forensic tests. It was seen parked on South Yarra's Simmons Street, around the corner from the nightclub.

A second silver Suzuki Swift parked on the same street was set on fire by mistake, investigators said.