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The United States Geological Survey reported on its website the tremor was a magnitude 4.7 quake, about 96 kilometres from Melbourne, and Geoscience Australia says the tremor was centred near Korumburra.
There have been no reports of injury and police are urging people not to call 000 unless they have been injured or suffered property damage.
Victoria Police and the State Emergency Service also say there has been an earth tremor but said there are no reports of any damage so far.
Terry Ryan from the Bureau of Meteorology says the tremor struck just before 9:00pm (AEDT).
"At 8:55pm there was an earthquake 5.5 kilometres north-west of Korumburra, which of course is in South Gippsland," he said.
"At this stage the estimation was 8 kilometres deep."