Nationals candidate for Shepparton Shane Sali said the commitment was part of a wider plan to make communities safer across Victoria.
“We know how important the CFA is to our communities, but too many volunteers have been left working with ageing trucks and outdated facilities,” Mr Sali said.
This commitment was independently costed by the Parliamentary Budget Office at $200 million.
It would also include a recruitment drive with a target of 10,000 volunteers over 10 years and an Emergency Services Volunteer Ombudsman.
According to the Victorian Auditor-General, 57 per cent of CFA and Fire Rescue Victoria trucks are at least 15 years old.
CFA operational volunteer numbers have fallen by 26 per cent over the past 10 years.
Around 802 CFA tankers are still single-cab models, which force volunteers to sit outside exposed to heat, smoke and dust.
Nationals leader Danny O’Brien said the five-year commitment would give the CFA certainty to plan.
“Brigades have told us they need modern trucks, better stations and more volunteers coming through the door, and we have a plan to deliver it,” Mr O’Brien said.
The Coalition has also promised to scrap the Emergency Services and Volunteers Fund and restore the former Fire Services Property Levy model.