The second term member for Brunswick announced in January that he would not contest the state election in November, revealing he had been diagnosed with metastatic cancer.
Tributes are pouring in for the 64-year-old who served as the party's spokesperson for Health, Justice, Integrity and Science.
Prior to entering parliament in 2018, Dr Read worked as a GP and medical researcher specialising in the epidemiology of sexually transmitted infections.
He is survived by his wife Angela and children Louisa and Martin.
"The Victorian Greens are truly devastated to announce the death of Tim Read, our dear friend, colleague and beloved MP," the party said in a statement posted to Instagram on Saturday.
Fellow MP Ellen Sandell said Dr Read passed away surrounded by family and love.
Victorian Premier Ben Carroll said he had been touched by a conversation he'd shared with Dr Read earlier this week.
"Despite his health challenges, he was positive and optimistic for a better world," Mr Carroll said.
"I always valued his intelligent and humane contributions to the public debate.
"I always respected his convictions and his determination to make life better for others."
Opposition Leader Jess Wilson said she was deeply saddened by the passing of Dr Read.
"Tim was a man of conviction and a thoroughly decent person," she said in a statement.
"He brought sincerity, compassion and a strong sense of public duty to his work, earning respect across the parliament.
"His commitment to integrity in public life was unwavering."
Ms Wilson said through Dr Read's leadership of the parliament's Integrity and Oversight Committee and advocacy for anti-corruption laws, he worked to ensure those entrusted with power were held accountable.
"On behalf of the Victorian Liberals and Nationals, I extend my deepest condolences to Tim's family, friends, Greens colleagues and the Brunswick community."
Labor MP Sonja Terpstra described Dr Read's death as "very, very sad".
"Deepest sympathies and condolences to Tim's family and friends and the Victorian Greens crew," she posted to X.
" Gone too soon, and will be sadly missed."
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