It's the end of an era: Victoria's distinct red English-style double-decker buses are being retired.

The company that operates the buses, Wilson's Transportation, has decided it's time to replace the eight vintage models built in the 50s and 60s.

They've been a tourist landmark for decades, but the upkeep on the decades-old vehicles is becoming tougher, the company said.

"They're iconic and part of the tourism landscape here in Victoria, but our maintenance department has challenges," said CEO John Wilson.

Even on Thursday, during its final week on the road, one of the buses required constant mechanical work.

The fleet is being replaced with three new double-deckers that will maintain the style of the old buses – but with a smoother, more environmentally friendly ride.

"The exciting thing about the new ones coming up is the ride comfort for the people on board," said driver Russell Gilbert.

Half of the old fleet will undergo an electrical conversion with hopes they could one day return to the road.

Others will be used for special occasions like community events.

"We're looking at putting it at Royal Athletic Park for the Harbourcats Games as a kind of party observation deck for Harbourcats games, so we are definitely looking at that," said Wilson.

For those wanting to say goodbye to a piece of Victoria history, the last leg for the retro buses will take place around the Inner Harbour this weekend.