Victory were uncontainable from minute one on Saturday night, scoring first-half goals through Keisuke Honda, Raul Baena and Kosta Barbarouses.
Terry Antonis' late lethal finish sealed the rout, which was Victory's biggest win over the Wanderers.
Victory put on an attacking masterclass in front of 19,556, prompting Fox Sports commentator Andy Harper to call their display "as good as we've seen".
The scorers and Ola Toivonen, who could easily have scored more, showed breathtaking craft and understanding going forward.
The sour note from a rampant outing was Baena and Nick Ansell limping off after halftime, joining a growing Victory injury list.
But so long as Victory have Honda on their team sheet, they'll take some stopping.
The Japanese superstar dominated in midfield and put Victory ahead after 11 minutes, heading home Antonis' cross on 11 minutes.
Baena's first goal in a Victory shirt came after 31 minutes before Barbarouses made the advantage three.
Victory's link-up play was a joy to behold but by contrast, Markus Babbel's commitment to a high line and an absent Wanderers midfield made his defenders lambs to the slaughter.
