Educated at Wesley College, Melbourne, Loxton first gained prominence as an Australian rules football player. After debuting in 1942, he played 41 games in the VFL for St Kilda as a forward, kicking a total of 114 goals before retiring at the end of the 1946 season to concentrate on his cricket career. In 1944, he headed St Kilda's goal-kicking aggregate with 52 goals and placed second in the club's Best and Fairest. Loxton served in a tank division during World War II and made his first-class cricket debut in 1946–47. He scored 232 not out, which remains a record for any Australian player on his first-class debut. After a strong first season, Loxton was selected to make his Test debut in the final match of the 1947–48 home series against India. Australia had already won the series and used the last match to trial their young talent. Loxton seized his opportunity, scoring 80 and taking three wickets, securing himself a position on the 1948 England tour.