The woman, 37, was arrested on Thursday and remanded into custody to appear at Melbourne Magistrates' Court on Friday.
On May 21, emergency services were called after a blaze erupted at a two-storey home on Terrigal Street, Chadstone, in Melbourne's east, around 9.40pm.
At the time Victoria Police said they believed a gas cylinder exploded inside the house.
Dozens of firefighters battled the blaze, as the flames burned through the roof of the two-story townhouse.
Fire crews found the woman and two girls unconscious in an upstairs bedroom and carried them from the smoke-filled home, which Fire Rescue Victoria Commander Paul Eckholdt described as a "difficult rescue".
A woman and the girls, aged seven and eight, were taken to hospital in a critical condition.
The woman was left fighting for her life in hospital.Â
The fire destroyed bedrooms, an ensuite and caused a partial structure collapse while the rest of the home suffered smoke and water damage.
A fourth occupant, a 36-year-old man, was not home at the time of the fire.
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