The outgoing co-chairs of the inaugural First Peoples' Assembly of Victoria gave their farewell speeches in the Victorian Legislative Council on Wednesday, during the opening meeting of the Assembly's second term.

Proud Nira illim bulluk man of the Taungurung Nation Marcus Stewart, said it had been his privilege to serve as one of the inaugural co-chairs of the Assembly.

"I've enjoyed immensely my time on the Assembly and am proud of what we achieved together so far," Mr Stewart said.

He highlighted the achievements of the Assembly, and its move towards establishing Treaty with the Victorian state government.

"The inaugural Assembly laid the foundations and process for Treaty-making," he said.

"At every step, we've been sure not to be constrained by colonial systems and concepts. The journey to Treaty must be done on our terms."

Fellow co-chair, proud Bangerang and Wiradjuri woman Aunty Geraldine Atkinson, said there was a sense of amazement at where she was delivering the speech.

"Isn't this something! To be here together in a building that in many ways is the belly of the beast that terrorised our people for all too long," she said.

"Where laws and policies about us, were made without us, and imposed on us, against our will, and at great cost to our people."

Aunty Geraldine highlighted the sense of pride that both she and Mr Stewart felt in the achievements of the Assembly over the last four years.

"When we first sat here, almost four years ago, Treaty felt like a distant dream – we knew it was possible, but we had no clear path to walk along," Aunty Geraldine said.

"For too long, us Aboriginal people have had laws and policies forced on us by governments that don't really understand us or worse, don't respect us or our culture.

"But when we sat here, as the First Peoples' Assembly of Victoria, mob in Victoria finally had a voice."

In the first iteration of the Assembly, significant achievements were made, which Mr Stewart highlighted in his speech.

These include:

-The setting up of the Yoorrook Justice Commission; the first formal truth-telling process in Australia.

-The design of the Treaty Authority; an independent umpire that will help oversee the negotiations with the state government.

-The establishment of a Self Determination Fund to help traditional owners generate wealth for future generations, and

-Agree on the Treaty Negotiation Framework, which will enable Traditional Owners across the state to negotiate Treaties in their areas.

Mr Stewart said these were "tangible outcomes of our hard work and commitment to making Treaty a reality for our people."

"They were created by mob, for mob. Their very existence is an act of self-determination and of decolonisation," he said.

"We have started to put power back in Aboriginal hands."

Both Mr Stewart and Aunty Geraldine thanked the state government for coming to the table in both the creation of the Assembly and discussion around Treaty negotiations.

"Treaty is and should stay above party politics," Mr Stewart said.

"It's a journey that must be led by First Peoples, but it's a journey best taken together."

Aunty Geraldine said there would likely be more disagreements "along the way," but the government had always "approached the hard conversations in good faith."

"I believe the leadership they have shown for their people on this journey will be remembered fondly by the history books," she said.

Both closed their speeches by wishing the new members of the Assembly luck, and by expressing their support for the Yes vote in the Voice referendum.

They both stated that the best way for Aboriginal voices to be heard, is by Aboriginal people being actively involved in decisions that impact their lives.

"Any step forward that gives Aboriginal people more of a say on the decisions that affect their lives is a step we need to back in," Mr Stewart said.

For Aunty Geraldine, the Assembly was needed to be a strong vocal point for First Nations people throughout Victoria.

"…it's so important we have the Assembly to be a strong Voice for our people," Aunty Geraldine said.

"And that's why our people need a Treaty – so the decision-making power can be placed back into Aboriginal hands."