Flooded Melbourne road to remain closed

A flood-ravaged section of a busy Melbourne CBD road will remain partially closed throughout the weekend as authorities continue repairing water damage.

Melbourne's Victoria Street will remain partly closed after flood damage from a burst water main. (AAP)

A busy Melbourne city street will be partially closed throughout the weekend as authorities continue to mop up after a burst water main buckled the road surface and left it looking like a swimming pool.

Drivers travelling eastbound on Victoria Street between Elizabeth Street and Swanston Street in the CBD are being diverted after the burst pipe flooded the area on Thursday.

It is expected the road will reopen in time for Monday's peak hour.

Crews from City West Water, VicRoads, City of Melbourne and the Cross Yarra Partnership are involved in the cleanup, which has been described as "complex".

"Forecast bad weather may restrict the abilities of the crews to complete all work," VicRoads said in a statement.

"We will continue to issue regular updates, so the community can plan around the closure and get to where they need to go."

Engineers are monitoring conditions and making changes to signals in real time to minimise delays, with motorists urged to avoid the area.

The road remains open for those heading westward.