A member of the Baillieu-Myer family dynasty, in his maiden speech he paid tribute to his family: "My grandparents' families (the Baillieus and the Myers) made their own contributions to community life in this state. They have done so in many parts of Victoria and in a range of fields including agriculture, business, the services, sport, heritage protection, the arts and public life. I am proud of their achievements and I value the benefits of family above all." He has a declared shared portfolio which includes more than 30 companies, including Coles Myer, major banks and BHP Billiton, but also contributes to charities such as the Epilepsy Foundation of Victoria.
Since his entry into Parliament, he has been a permanent member of the Liberal Party frontbench. He has served as Shadow Minister for Tertiary Education and Training (1999-2001), Gaming (July 2000-August 2002) and Planning (September 2001-May 2006).
After Doyle's resignation, speculation mounted that former Victorian Premier Jeff Kennett would return to politics and the position of Liberal Party Leader in order to lead the party into the 2006 state election which was held on 25 November 2006. However on the morning of 5 May 2006, Baillieu in announcing his candidacy for the party leadership revealed that Kennett would withdraw from the leadership race and throw his support behind Baillieu. Later that afternoon, Baillieu's only other challenger for the position, Shadow Minister for Transport Terry Mulder also withdrew from the race.
In a speech at the State Council of the Victorian Liberal Party, Ted Ballieu opposed the push by John Howard for nuclear reactors in Victoria.
An online campaign against Baillieu by senior Liberal Party members was uncovered and made public, with Baillieu promising to root out the disloyal elements in his party. The media suspected that forces loyal to former Federal Treasurer Peter Costello and former State Party President Michael Kroger had attempted to undermine Baillieu.
He is married to Robyn and has three children: Martha, Eleanor and Robert.