Foreign Minister Julie Bishop revealed the identities of the pair in parliament today.
"Two Australians, Carol Friday and her son were on board the flight. Consular officials have been in contact with the Friday family and are providing all possible consular assistance. Our thoughts and prayers are with them at this unimaginably difficult time," Ms Bishop said.
She then read form a short statement from the mother and son's family.
"Our family is in deep disbelief and crippled with sadness and would like to ask for privacy. Carol was a loving mother of two, a devoted wife to her husband, Dave, and a sister to three brothers. She celebrated her 68th Birthday on March 23. Greg was to turn 30 on 23 April," she said.
“He was a loving son to Carol and Dave and an exceptional brother to his sister, Alex. He was adored by all his family and friends.
"Carol and Greig were enjoying a few weeks holiday together at the start of his European stay, where Greig was to teach English this year. 'They were both extraordinary and exceptional people who were loved by many, who they loved in return. They will forever be with us in our hearts, memories and dreams."
The Australian mother and her adult son who died in the French air disaster are from Melbourne.
Victorian Premier Daniel Andrews said consular assistance was being provided to the family.
"We can confirm that two of the 150 who have lost their lives are from our state and we believe they're from Melbourne," he told reporters on Wednesday.
The premier said the tragic crash in the French alps brought back memories of other plane crashes over the past year.
"This incident will be a very painful reminder of other disasters in recent times - whether it's MH370 or MH17 - this will be a very raw moment for many Victorian families who have had to live through those tragedies just in the space of the last 12 months," he said.
Mr Andrews said he would personally offer his condolences to the family at the appropriate time.
The Victorian Aids Council paid tribute to Mr Friday, who had worked as a volunteer facilitator since 2007.
"We will miss Greig's witty personality and his sense of humour," Victorian Aids Council peer education co-ordinator Budi Sudarto said on Wednesday.
"Greig always put others first and this was evident in his ongoing dedication to both `The Young and Gay` and the peer education program.
"We will remember Greig, and we want him to know that he left a positive mark on the world and put smiles on others' faces as part of his legacy."
The program offers support to young people who face homophobia and other issues relating to their sexuality.
A VAC director Colin Batrou said like many young gay men, Greig had to find a way of coming to grips with his sexuality, learn about relationships, and come out in a society that is sometimes hostile to gay men.
"Greig did all this with grace and humility," he said.
A former Monash student remembered the former student association Queer officer in tweets as "seriously the nicest guy".
Others have taken to social media to express their sadness of a life taken too soon, describing Greig as a man who lived and loved with "boundless passion, humility & compassion".
The City of Casey, where Carol worked, said they were incredibly saddened to learn about the tragic loss of their colleague and friend.
Six Australians were aboard Malaysia Airlines flight MH370 which disappeared en route from Kuala Lumpur to Beijing in March 2014, with 239 people aboard.
Just a few months later, in July, flight MH17 was shot down over Ukraine killing 298 people, including 38 Australian citizens or permanent residents. Seventeen of them were from Victoria.
