The funding will cover repairs to cracked stone walls, fixing the discolouration of the granite slabs and restoring damaged and missing lettering on plaques.
The project is one of 13 in the state to receive more than $324,000 to restore or improve war memorials, honour rolls and avenues of honour.
In addition, the Victorian Government has announced more than $1.4 million in funding for 55 projects to support and honour Victorian veterans and their families.
Among the beneficiaries is the equine therapy service Path of the Horse, which will receive $50,000 to create a covered area on its site to work with more clients while maintaining privacy.
The Veterans Capital Works Grant Program will fund 31 projects to upgrade facilities of up to $50,000 for not-for-profit and ex-service organisations.
The program will also provide grants of up to $30,000 for 11 organisations under the Victoria Remembers initiative, which commemorates veterans’ service and educates Victorians about the contributions made by veterans and their families.
The Museum of Chinese Australian History will receive $20,250 through the Victoria Remembers program to create a range of videos about the stories of Chinese Australians who served during World War I and World War II.
Other projects include restoring and displaying a Wackett Trainer aircraft at the Trafalgar Holden Museum, which will tell the story of Sergeant Leonard Victor ‘Len’ Waters, Australia’s only First Nations fighter pilot during World War II.
Victorian Veterans Minister Natalie Suleyman said the funding supported projects that provided veterans and their families with access to modern, accessible and efficient facilities, and all Victorians could pay their respects, learn about history and acknowledge the service and sacrifice of veterans.