Victoria is the last state to adopt the scheme that's estimated to be rolled out by 2023.
People can receive a small refund when they return recyclable cans and bottles to drop points, usually at supermarkets.
The refund is typically five or 10 cents.
Greater Shepparton City Council infrastructure director Phil Hoare said council would support the introduction.
“The introduction would be in line with an implementation strategy under a statewide approach and Circular Economy Policy,” he said.
“Council would proactively work towards implementation of a statewide scheme, and support one being located in Shepparton if that was part of the implementation plan.”
Mr Hoare said the scheme would be consistent with council's Waste and Resource Management Strategy.
“A container deposit scheme provides an incentive and encourages our community to recycle, which is a positive outcome and clearly this could work within our municipality.
“It is worth noting, however, that the entire waste management system is interconnected, and changes to one aspect often has flow-on effects which are difficult to predict.
“For example, the introduction of a container deposit scheme can impact the value of material in the kerbside recycle bin and hence the cost of collection.”
Mr Hoare said the scheme would most likely not affect council tips.
State Member for Shepparton Suzanna Sheed said she had mixed feeling about the scheme.
“I can see few problems with such a scheme and many benefits,” she said.
“There are a number of issues to be sorted out, particularly given our current kerbside collection contracts that exist.
“However, I understand that the government will continue its negotiations with the operators of these recycling facilities and a container deposit scheme will ultimately provide a higher quality of recyclable material.”
Ms Sheed said the scheme needed to be rolled out quicker than the estimated 2023.
“I am concerned that the roll-out of the project might take until 2023 when other states are already on board and running their own versions and trust that such a project could be up and running in Victoria earlier than after the next election,” she said.
“These deposit schemes were very popular many years ago and acted as a great incentive by rewarding recycling, especially for children looking to earn a bit more pocket money.”