The Australian Education Union endorsed an in-principle agreement which will see Victoria's public school teachers pocket pay rises of between 28 and 32 per cent over four years.
Victorian branch president Justin Mullaly said scheduled strikes across the state throughout May and June would stay on hold while the proposal is put to members on the government's offer.
If accepted, the offer will see teachers receive a pay rise between 28.3 per cent and 32.4 per cent depending on role and level of experience.
An experienced teacher can expect to go from a $118,063 salary to $151,419 by 2029, taking them ahead of their NSW counterparts.
"This is a win for teachers, educators, principals and education support staff, but it's also a win for all Victorians," Mr Mullaly said.
"Nationally competitive pay and measures to tackle overwork and burnout will help keep experienced educators in the sector and attract the next generation."
Premier Jacinta Allan said the agreement would make Victoria's teachers "the best paid in the country".
Education Minister Ben Carroll said the $4.6 billion dollar deal was an offer everyone could be proud of.
"We've got the best paid teachers and best paid principals," he told reporters in Melbourne on Friday.
"This education agreement is one of the quickest that has been done, and that has been a cooperative effort with the union ... they started at 35 per cent, we started at 18.5 per cent."
The state government has been embroiled in failed negotiations with the union for almost a year.
Members have demanded a 35 per cent increase over four years, smaller class sizes and more flexible working arrangements, including the possibility of a four-day work week.
