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The station's neglected ballroom is somewhat legendary among Melbournians, and there have been plenty of proposals for its use, from hosting a craft market to crisis accommodation for the homeless.
The ballroom was in a state of dereliction, and work has been done to waterproof and stabilise its roof.
Ms Allan said no decisions had been made about how the ballroom and other spaces would be used once the works were complete.
"There's certainly been plenty of ideas put forward," she said.
"We also have to make sure that whatever future use is made of this space that it's sympathetic to the passenger movements that come through this station."
Ms Allan said the works were not just about protecting the station's history, but also to improve its useability.
"Flinders Street station is our busiest station – around 200,000 passenger movements go through this station every single week day, 26 million passenger movements a year," she said.
