No one was inside the business at the time, but 60 people were evacuated from the apartments above the venue.
The second fire occurred two days later about 2am on November 20.
CCTV captured two men pouring accelerant through the restaurant and setting it alight, before running from the scene as flames erupt behind them.
The business was completely destroyed by the second fire. No one was inside at the time.
Residents in the above apartments were again forced to evacuate and no one was injured.
Detective Inspector Graham Banks described the arson attacks “utterly reckless”.
“Since this series of arson attacks commenced in March, one of the biggest concerns for police was that one of these fires would directly lead to one or multiple deaths,” he said.
“It is only sheer luck on both these occasions that none of the people living in the apartments above this restaurant were killed or their homes completely destroyed.
“These incidents how a complete disregard for life or property.”
Victoria Police’s taskforce Lunar are treating the fires as suspicious and believe they are linked to an eight-month series of arson attacks across the state, mostly targeting tobacco stores.
Police hope the CCTV can help identify the two men, who are described as wearing dark coloured clothing, including hooded jumpers, and carrying yellow and red jerry cans.