More than 45,000 year 12s, as well as any year 11s who completed a Unit 3/4 subject, got their Australian Tertiary Admission Rank (ATAR) at 7am on Thursday.
The ATAR measures a student's overall academic achievement compared with other final-year students in Australia, with the highest possible score a 99.95.
Thirty-nine Victorian students - 29 male and 11 female - achieved the top score.
Three of those girls studied at Methodist Ladies' College at Kew in Melbourne's east.
The average ATAR across all students in the state was 69.26 with an average of 70.6 for female students and 67.62 for males.
Tamara Barth, the interim director of the Victorian Tertiary Admissions Centre, which processes the scores, congratulated all students on their determination in completing VCE over 2020 and 2021 during a time of remote learning and lockdowns.
"All students who were able to complete their secondary schooling in 2021 should be proud of what they have achieved, and confident of their ability to successfully navigate their next steps," she said in a statement.
In all, 50,723 students will graduate with their VCE - a completion rate of 98 per cent of students - and another 14,066 will receive their Victorian Certificate of Applied Learning.
Every student completing one or more VCE or VET Unit 3/4 subjects was given special consideration towards their ATAR, given the disruption to the 2021 school year.
Education Minister James Merlino reminded students their marks do not define them, noting there are other pathways to achieve their goals no matter how challenging their final two years have been.
"VCE and VCAL graduates are impressive every year - but the Class of 2021, completing their final years of school during a global pandemic, are particularly inspiring," he said.
"Congratulations to every single student right across Victoria."
Students have until December 20 to finalise their university or TAFE course preferences, with the first round of offers to be released on January 14.
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