The suspected man, who has both Greek and Australian citizenship, fled to Greece in 2017 after the police decided to DNA-test him as one of the 131 people who had appeared in the investigation of the murders.
The police managed to link the man to the murders with the help of DNA from a close relative. However, they did not get him extradited from Greece, but instead waited patiently for him to eventually leave the country.
On Thursday, the man, who was wanted by Interpol, was finally arrested at the airport in Rome. Australia will now begin the work to get him extradited from Italy.
A police officer who since 2015 had been responsible for the investigation of the murders gave notice to the murder victims' relatives about the arrest, announced Victoria's police chief Shane Patton at a press conference on Saturday.
They were emotional, stunned, overwhelmed, but grateful that they had not been forgotten, said Patton.