"Our Golden Dragon Museum is a wonderful place to celebrate Chinese culture and heritage and how Bendigo and the broader goldfields was built off the back of so many Chinese migrants ... and that rich heritage lives on today."

Investigators believe the woman, accompanied by a man and two children, flicked an oily substance on statues, stonework, temple artefacts, artwork and parading dragons on May 5 before leaving in a silver Toyota Prado.

Police have released footage of the woman and man they would like to speak to.

Golden Dragon Museum chief executive Hugo Leschen said the incident was very upsetting to staff, volunteers and the greater community.

"This museum is much loved," Mr Leschen told AAP.

"We're the largest and most important collection of Chinese cultural and heritage material in Australia."

The oily liquid has been sent for scientific analysis.

"All vandalism is mindless in a sense, but this was done with great purpose," Mr Leschen said.

"She's come out to do this and she's caused enormous damage in her actions."

It is believed the family then drove northwest of Bendigo to the Great Stupa of Universal Compassion, a Buddhist monument, to deface more artefacts.

"We estimate the repair bill will run into the tens of thousands of dollars and we will work to repair what we can," Stupa Chairman Ian Green said in a statement.

"The objects at the Stupa are considered sacred and many have been entrusted to the Great Stupa by various faith-based communities to help preserve and celebrate their traditions, providing a space for worship and fellowship,” he said.

Police have released images of two people they want to speak to and are asking any witnesses to contact Crime Stoppers.

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