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Authorities in the state, which has been struggling to contain COVID-19 throughout July, said earlier this week the latest outbreak may have peaked.
However, the number of new cases will hit a daily record high on Thursday, however, The Herald Sun reported.
The ABC is reporting the exact number of new cases in Victoria announced today will be 723.
If confirmed it would be a record for both deaths and cases and more than double the number of cases reported yesterday, which dropped to 294 - the first time in more than a week the number of new cases was below 300.
Yesterday it was announced there was nine deaths from the coronavirus over the previous 24 hours, with seven casualties linked to aged care facilities, Premier Daniel Andrews told reporters in Melbourne.
The deaths included two people in their 90s, five people in their 80s, one in their 70s and and one in their 60s.
Australia has so far reported relatively fewer coronavirus cases than many other countries, but a spike in community transmission in the neighbouring states of Victoria and New South Wales has alarmed health officials.
Aged care homes are at the centre of the Victoria outbreak. National Deputy Chief Medical Officer Nick Coatsworth said there were 679 active Covid-19 cases linked to the homes, including workers.
"The numbers of cases in some facilities is substantial and that is going to take some time to get on top of," Coatsworth told Australian Broadcasting Corp television.
Reuters and AAP