Victoria police are appealing to the public for information on Friday's triple fatality in the small south-west town of Kirkstall, after two men were found dead by the side of the road, and the body of a third man was discovered by police at a nearby property.

Two of the deceased have been confirmed by police as victim Kevin Knowles and alleged shooter Travis Cashmore.

The identity of the third man is yet to be released, with police saying they are still to contact the man's family.

The ABC understands the bodies of Mr Knowles and the unnamed second victim were discovered just after 10am on the grassy shoulder of Scotts North Road by a council worker.

The bodies were located some distance apart on the quiet back road surrounded by farmland.

Both men were declared dead at the scene.

Western Region Superintendent Martin Hardy said career criminal Kevin Knowles was well-known to police, and all three men are believed to be known to each other.

He said the circumstances around the deaths were still under investigation, but police had assured the tight-knit community of 400 that there was no threat to the community.

"We're certainly not looking for anyone else," Superintendent Hardy said.

"We will be continuing our investigation and conducting assurances activity around the town."

Alleged killer well-known in town

Kirkstall resident of 30 years Ian Williams said he had lived next door to alleged shooter Mr Cashmore for 15 years and was shocked to learn his neighbour could be behind the killings.

"I know Travis, he's a lovely guy. He had a biofuel system, he'd turn fish and chip oil into diesel to run his car. He was a hippy," Mr Williams said.

"We've never had a run-in with him and we've been neighbours for at least 15 years.

Mr Williams said he heard a gunshot about midday on Friday.

"I thought I'd heard something fall on the shed, but it was unusually loud. That was mid-morning."

Alleged shooter tracked to his home

Police discovered the body of Mr Cashmore in a paddock behind his Kirkstall property, where he had lived for the past 15 years.

The discovery was made after receiving two calls from members of the public who reported hearing gunshots on Friday.

A white van, sighted near the scene and believed to be belonging to the gunman, was tracked by police to Mr Cashmore's address.

Detectives in unmarked vehicles were stationed in the driveway of the property and uniformed officers could be seen entering and exiting the one-acre property.

Superintendent Hardy has appealed to the community to come forward with information, which could be given anonymously through Crime Stoppers on 1300 333 000 or through the website.

"Any witnesses who may have seen or heard anything please come forward. Every piece of information will help us work through how they sustained these fatal injuries," he said.

The investigation has been handed back to the Warrnambool criminal investigation unit, and the bodies will be sent to the Melbourne coroner.

A report will be prepared for the coroner.