Police in an unmarked car from the Nunawading highway patrol stopped the man while he was drag racing another car southbound on Stephensons Road at 11pm. Police allege the man's car was travelling at 148km/h, more than twice the speed limit.

The man, in his 20s, was also charged with engaging in a speed trial on a highway and with exceeding the speed limit.

Sergeant Colin Greenland of the Nunawading highway patrol said police were still conducting inquiries to find the driver of the second car and appealing for witnesses to come forward.

Anyone with any information can call the Nunawading highway patrol or Crime Stoppers 1800333000.