I was holding an expired license from Florida when I arrived in Melbourne-Victoria last year.I was thinking of going through all the tests to get a Victorian license when I found in one of the internet forums that we can get a US license converted even if it is expired. The only thing is it should not be expired for more than 5 years. Mine had few more days left to reach the 5-year mark.
I immediately went to one of the VicRoads customer service centers. You will have an officer waiting at the entrance to help you with tokens for each service. Please let the officer know that you are for license conversion. He/she will give you a token number. Please reach out to the counter based on your token number. They will give you an application for license conversion and an appointment. My appointment was 10 days after. You need to pay a fee of AUD 18.20.
On the appointment date, please make sure that you are there at VicRoads customer care center 10 minutes before your appointment.Also please have your US license, completed application for license conversion, and identity documents as listed. I had my bank statement which clearly showed the Victorian address and my passport.Just let the customer care officer at the entrance know that you are there for license conversion appointment. This time you don't need a token.They will ask you to take seat in front of the officers. One of the officer will call your name and purpose.You can head to the officer. They will inspect your US license, verify it online and then request you to pay the victorian license fee.You can find the fee details here. I paid the fee for a 10-year license to avoid the renewals frequently.Afterwards, I had a quick eye test, they just asked me to read a couple of lines from a board and then they took my photo and gave me a temporary document to drive until I receive my full license at my home address.It took maybe around 20 minutes to complete the process. Later my full card license reached my home in a week. That's it !. You are fully licensed to drive on Victorian roads.
But I would better suggest you go through VicRoads youtube videos and VicRoads drivers manual which is called Road to Solo Driving Handbook before you drive in Victoria. You can download a pdf copy of this book here Here is a link that you can follow to get details on overseas license conversion process https://billing.vicroads.vic.gov.au/bookings/overseas