Fixing Victoria's top regional road and public transport deficiencies will cost at least $4.6 billion over the next 10 years, according to the RACV.
The funds would pay for the duplication of the Princes Highway from Traralgon to Sale and Geelong to Colac.
The complete duplication of the Western Highway from Ballarat to Stawell also makes the RACV's regional priority list.
RACV general manager of public policy Brian Negus said delays in starting the projects were putting the brakes on economic development in regional Victoria.
"The completion of these projects is vital to the future livability and economic viability of our regional communities which rely heavily on the provision of safe and efficient transport," he said.
Safety on Victoria's regional highways was also rated as severely lacking with just two per cent of its 2885km major highway network receiving the RACV's top five star safety rating.
Mr Negus said $580 million was needed to achieve the minimum three safety star standard.
"This investment in safety upgrades would save at least 2800 people from serious injury or death over the next 20 years," Mr Negus said.
The RACV's report, released on Tuesday, also says the North East Link is a top priority for regional Victoria as it provides the missing link in the outer ring road network.
Mr Negus called on whichever party wins November's state election to commit to getting these transport projects going.
The report came after a year-long investigation that included a survey of almost 8000 people and input from councils, public transport operators and government agencies.
RACV'S $4.6 BILLION REGIONAL ROAD SHOPPING LIST INCLUDES:Princess Highway East duplication from Sale to Traralgon, $325 million
Princess Highway West duplication from Geelong to Colac, $350 million
Western Highway duplication from Ballarat to Stawell, $505 million
Construct the Shepparton Bypass on the Goulburn Valley Highway, $250 million
Railway station upgrades recommended for Ballarat, Bendigo, Geelong, Marshall, Moe, North Shore, Traralgon, Warrnambool.