The British-built single-seat fighter aircraft was discovered in the Orne River in November 2010 having been shot down by anti-aircraft fire on June 11, 1944.

Operated by the RAAF 453 Squadron, it was being flown by Australian Spitfire pilot Flight Lieutenant Henry 'Lacy' Smith at the time of the crash.

Flight Lieutenant Smith was buried with full military honours at the Commonwealth War Graves Cemetery in Normandy, France in April this year, with his plane returned to Australia by sea freight last month.

Since the plane's discovery, Prime Minister and Lalor MP Julia Gillard has been campaigning for it to be displayed at the Point Cook RAAF Museum. The museum was gifted the plane in late September.

Ms Gillard said it was fitting it be displayed at Point Cook given the museum's recent acquisition of plane parts from Vietnam and an F-11C and F-11G.

"I'm pleased to know that Flight Lieutenant Smith's aircraft is there and in such safe hands," she said. RAAF museum director David Gardner said the plane would need to undergo extensive conservation before being displayed in the museum from next year.

He said the plane needed to be thoroughly cleaned and treated after lying in a French estuary for 68 years.

Once clean, the plane will be placed in a tank of fresh water to desalinate and then be put on public display. The process is expected to take between six and eight months.

Mr Gardner said the plane would be a great addition to the museum. "We don't have a great deal that represents the flight operations in Europe in World War II. It is an iconic aircraft."