The 764th Regiment was activated on 15 June 1952 at Bolshoye Savino Airport at Perm, part of the 87th Fighter Aviation Division PVO.

Two pilots of the regiment, deputy squadron commander Captain Boris Ayvazyan and Senior Lieutenant Sergei Safronov, sortied to intercept the Lockheed U-2 spyplane of American pilot Francis Gary Powers on 1 May 1960; Safronov was shot down and killed by a Soviet surface-to-air missile after Powers' U-2 was downed.

In November 1990, the regiment was equipped with 38 MiG-31s, according to Treaty on Conventional Armed Forces in Europe data.

In 2016, the regiment returned to its original name, though without the PVO designation, receiving its battle flag in December of that year.

[4] The 764th received six modernized MiG-31BSMs in early 2017, according to an official Russian military press release, augmenting its pre-existing MiG-31BS and MiG-31DZ aircraft as part of a modernization program to extend the airworthiness of its MiG-31s.