Presidents of the Kyabram and Tongala branches both said a royal commission was "long overdue".
It was announced last week by the Federal Government that the royal commission would "examine the systemic issues and any common themes and past deaths by suicide of Australian Defence Force members and veterans and the experience of members and veterans who may continue to be at risk of suicide".
Tongala RSL sub-branch president Max Webster said he welcomed the royal commission but stressed it was equally vital that it led to better support for veterans.
“I'm hoping something good can come out of it,” he said.
“It's a big problem with veterans and it has been going on for years.”
Kyabram RSL sub-branch president Stan McIntosh said a royal commission should have happened a "long time ago".
“There are so many veterans dying and nothing was being done,” he said.
“These blokes went to war, fought for our country and we didn't do anything to protect them when they returned.”
Prime Minister Scott Morrison said it came after calls from the public for a national inquiry.
“We have always recognised that the rate of suicide of Australian Defence Force members and veterans is unacceptably high,” he said.
“In recognising the sacrifices made by our serving and former members and their families on behalf of the nation, we owe it to members, veterans and their families to continue to take action.”