Voting for Victoria Police's enterprise bargaining agreement ballot closed on Friday with 76 per cent of 16,200 voting members agreeing to the deal.
It includes a minimum 4.5 per cent annual pay increase across the next four years with those on the front line winning an additional 0.5 per cent raise.
However, members will no longer be allowed to access a clause that enabled them to cash in up to 12 months of accrued sick leave upon retirement.
Police Association chief executive Wayne Gatt said more still needed to be done to improve working conditions in the force.
"The finalisation of this industrial dispute is just the first step in a raft of improvements that desperately need to occur quickly to support our front line, so that it can continue to protect and support the community," he said.
Opposition spokesman for police and corrections David Southwick said the long-awaited agreement was "too little too late".
"The police have been exhausted. They're overworked and they're underpaid," he said.
The Police Association and Victoria Police struck an in-principle deal in May on a nine-day fortnight and 16 per cent pay rise across four years.
But it was knocked back by staff in July, leading hundreds of police to walk off the job for the first time in 25 years.
Victorian police minister Anthony Carbines said the members' deal was "earned" after more than a year of disputes.
"We respect the fact that members are allowed to say, no, they are allowed to say, go back and work harder for us, come up with government with better outcomes for us," he told reporters.
"Everyone has worked hard to do that. Everyone has brought those matters back to police members to have a say."
The Fair Work Commission was asked to intervene but declined, sending the force and union back to the negotiating table.
A tentative deal was reached in late January but had to be put to a staff vote for final approval.
It comes after Shane Patton was pushed out as chief commissioner on February 16 following a union-led vote of no confidence by rank-and-file officers.
More than 12,600 of the 14,571 union members who voted - or 87 per cent - did not feel Mr Patton could lead or manage the force into the future.
Mr Patton initially flagged his intention to remain but resigned two days later after the state government decided his position was untenable and appointed Rick Nugent as acting chief commissioner.
Deputy commissioner Neil Paterson followed him out the door after being told his contract would not be renewed.
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