Tasmanian fast bowler Adam Griffith decimated Victoria's top order early in the opening session, claiming a career-best 7-54 to bundle out the visitors for 162.
But Victoria fought back to take eight wickets for 41 in the last 14 overs and dismiss Tasmania for 101 on the second-last ball of the day.
All-rounder Ian Harvey, Victoria's top-scorer with 79, chipped in with three wickets, bowling skipper Dan Marsh for 10 and capturing keeper Sean Clingeleffer for two.
Harvey topped it off with former One-day International Michael Bevan, who fell lbw for a top-scoring 19 to deliver Harvey 3-33 by the close of play. Paceman Michael Lewis took 3-13.