Hannah McGuire's body was found in bushland on Friday. Now a 21yo man has been charged with murder.

A 21-year-old man has been charged with murder after a woman's body was found near the regional Victorian city of Ballarat on Friday. 

Twenty-three-year-old Hannah McGuire was reported missing by family on Friday morning. Her body was found later that day after emergency services were called to a vehicle on fire near State Forest Road in Scarsdale, south-west of Ballarat, ABC News has reported.

A GoFundMe page has been set up by the Clunes Cricket Club in support of Hannah's family, and has raised more than $15,000.

"Hannah was known by many as a bright young woman and had a heart of gold," the club's statement read. "As a community, we send our deepest love and condolences to Glenn, Debbie, Jude and Fletcher."

The cricket club called McGuire's parents, who are club sponsors, "very generous people".

"All proceeds will go towards funeral costs and other expenses the family may need during this tough time." 

Two men from the nearby town of Sebastopol, aged 21 and 22, were arrested shortly before 5pm on Sunday in connection with Hannah's death. The 22-year-old man was later released, and the 21-year-old was charged with murder on Monday afternoon. 

Investigators believe the parties allegedly involved were known to each other.

The charged man will appear in Ballarat Magistrates' Court on Tuesday. 

— With AAP.

Feature Image: GoFundMe