Hundreds of branch members and union delegates will converge at Moonee Valley Racecourse in Melbourne for the party's two-day state conference over the weekend.
Prime Minister Anthony Albanese, Premier Daniel Andrews and two Victorian-based federal MPs are slated to attend.
In his speech, Mr Albanese will announce a $2 billion social housing fund, with plans to deliver the extra cash to state and territory governments within the next two weeks to speed up supply.
The Victorian branch of the party has not held a state conference since allegations of industrial-scale branch stacking emerged against former minister and factional powerbroker Adem Somyurek three years ago.
Branch stacking, which involves creating fake branch members to amass political influence, is not illegal but is against Labor party rules.
A joint probe by Victoria's corruption watchdogs found Mr Somyurek and factional ally Marlene Kairouz breached the ministerial code of conduct but opted against referring either for criminal prosecution.
Party stalwarts Steve Bracks and Jenny Macklin were appointed as administrators of the Victorian division in June 2020, with the pair expelling about 1700 "non-genuine" members after an audit.
The federal takeover resulted in the suspension of voting rights for state party members.
It was extended beyond the November state election at the request of Mr Andrews, depriving rank-and-file members of having their say in candidate preselections.
Seven right-aligned state Labor MPs shifted to the premier's Socialist Left faction after the election, including Treasurer Tim Pallas and Major Events Minister Steve Dimopoulos.
Administrative control was handed back to state Labor in late January ahead of an election for the party's administrative committee.
State conference delegates are scheduled to vote on urgent resolutions, discuss policies and debate party rules.
A rally to protest federal Labor's refugee policy has been planned outside the racecourse on Saturday.
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