Ricky Muir, the knockabout former Victorian senator, is on the brink of a political comeback with a tilt at State Parliament at the November election.

The ABC understands the Shooters, Fishers and Farmers Party (SFFP) are set to announce Mr Muir as a party candidate for the November 24 election, most likely in marginal Morwell which is not far from his Gippsland home, in the coming weeks.

Last year the party recruited the former Motoring Enthusiasts Party Senator in an "ambassadorial role" for the SFFP.

The seat of Morwell is ripe for a minor party or independent to mount a big challenge with a margin of just 1.8 per cent.

Incumbent Russell Northe is set to run as an independent, after quitting the Nationals to tackle personal issues, as revealed by the ABC in August.

Both major parties see opportunity in Morwell as well as the possibility of a non-major party succeeding due to high unemployment and the closure of businesses over the past decades.

Mr Muir was unavailable to comment but recently wrote on Facebook:

"2018 is an election year here in Victoria, who knows what the future holds, but one thing for certain is that, as an outdoors recreational enthusiast, I will be doing everything I can to ensure that the SFFP retain their seats at the state level," he posted. "As for me, time will tell, but if I was to consider running, I would need the support of a Gippsland-based electorate to have any success."

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Party state secretary Nicole Bourman said it was "most certainly looking to continue our growth by contesting key Lower House seats across the rural areas of Victoria".

Mr Muir bought the Canningvale mill, rebranding Muir Timber, in Heyfield in 2016 after leaving the Senate.

He has previously declared fears about how a Great Forest National park would destroy the native timber industry that town relies on.

Published and private party polling suggests the chance of a hung parliament is possible at this year's state poll, which could give a victorious Mr Muir a key voice on any crossbench.

A win for Mr Muir could help the ALP, as it would be one less seat for the Coalition in its quest to topple government.

"If he runs it is game over for the Nationals," a senior Labor figure said.

"It would be very hard for [Labor] to win" the senior figure said, due to the growing anti-establishment parties sentiment in Gippsland after the closure of Hazelwood.