Terror suspects could be placed under curfew, face GPS tracking and children as young as 14 could be locked up without charge under proposed hard-line reforms to Victoria's terror laws.

An expert panel led by former Victorian chief commissioner Ken Lay and former Court of Appeals judge David Harper will conduct a "root and branch" review of the current laws to prevent, investigate, monitor and respond to acts of terror, in the wake of criticism by Prime Minister Malcolm Turnbull and Melbourne's Brighton terror siege.