In 1956–57, his penultimate season for Victoria, Loxton—aged nearly 36—scored 134 and took 2/30 to orchestrate an innings victory over South Australia in the second match of the summer. In the penultimate match of the season, which effectively determined the fate of the Sheffield Shield, the Victorian all-rounder took 4/44 to help dismiss New South Wales for 149 and take a 292-run first innings lead. However, the defending champions hung on for a draw to ensure the retention of their title. Loxton then surpassed his previous career best by taking 6/49 against Western Australia to set up a nine-wicket win in the last match of the season.