The 59-year-old woman went missing last May and police say the accused man and victim had lived close to each other,but it is unclear if they knew each other.
Victoria Police revealed on Monday that the same man is being interviewed by homicide squad detectives over the cold-case murder of mother-of-two Annette Steward in Geelong West in 1992.
"He has not yet been charged in relation to the murder of Annette Steward. However,at this stage police are not seeking anyone else and the investigation remains ongoing,"a police spokeswoman said.
Ms Steward was found dead by a friend inside her bedroom at her home in Hope Street,Geelong West,on March 18,1992,two weeks before her 30th birthday.
She worked at the Winchester Factory in Point Henry and had left the factory about 4.30pm and made some purchases in Geelong before returning home and entertaining four friends with whom she drank tea.
Police say that the next day a friend noticed her car in the driveway and let himself into the house.
He found Ms Steward's naked body in her bedroom. An autopsy revealed she died as a result of strangulation,police said in 2015.