Sitting Liberal MP Roma Britnell has won the South West Coast election by a margin of just 3.8 per cent.
Warrnambool election manager Ian Sadler said the final round of preferences were counted on Wednesday morning.
He said the official winner would not be announced until declarations later this week.
But, on a two party preferred basis, Roma Britnell (Liberal) received 21,473 votes.
Labor candidate Kylie Gaston managed 19,870.
The margin was just 1603 votes or 3.877 per cent - making the seat of South West Coast marginal after being previously a safe Liberal stronghold.
Two party preferred Mrs Britnell managed 51.9 per cent of the vote and Mrs Gaston 48.1 per cent.
Mr Sadler said that more detailed figures were expected to be available on the Victorian Electoral Commission website later this afternoon or this evening.
He said those figures had yet to be entered onto the system.
"The counting was made more complicated by one of the candidates not reaching 50 per cent of first preferences and by having nine candidates in the election," he said.
"The primary primary count for the two final candidates was fairly close," he said.