The driver was issued with an infringement notice and had an immediate suspension of his licence.
A woman caught speeding at 148 km/h on Camperdown-Lismore Road on Sunday afternoon was issued with an $800 fine and a 12 month license suspension.
She was caught only minutes after a man in his 30s was detected speeding at 132 km/h on the same road.
Meanwhile, Police also impounded a number of cars of unlicensed drivers.
A 29-year-old female from Corio had her Holden Astra impounded for 30 days at a cost of over$1,400.
She reversed out in front of police on Murray St. Sunday night when checks revealed her probationary driver's licence was disqualified.
"It is a reminder to all members of the community that if you choose to drive a motor vehicle during a period of suspension, disqualification or simply without a licence, members of Colac Police wont hesitate to utilise vehicle impoundments as a means to stop offending," a police spokesperson said.
On Saturday night a Terang man allegedly tested positive for drugs, his third offence in as many months.
He refused to accompany police and will appear in court at a later date.