Twenty-two year-old Daniel Marinovich and 18 year-old Peter Clarke died after being thrown from the back of a utility in March.
Robert Saunders pleaded guilty to two counts of culpable driving causing death, three counts of conduct endangering a person and two counts of driving while suspended.
The court heard today Saunders was driving an unroadworthy vehicle under the influence of alcohol and at speeds of around 169km/h at the time of the crash, with three others crammed into the cabin of the two-seater ute.
Mr Marinovich and Mr Clarke were riding under the closed hard cover of the Ford ute tub along the Traralgon-Maffra Road in the early hours of 23 March when the vehicle ran off the road.
