It is based on the Blohm + Voss MEKO 200 frigate class and was built by Hellenic Shipyards Co. at Skaramangas as part of the programme.

On 29 March 2009, as flagship of EU NAVFOR Atalanta, Psara was involved in the capture of Somalian pirates fleeing from an unsuccessful hijack attempt on the German tanker Spessart, along with HNLMS De Zeven Provinciën, the Spanish frigate Victoria and USS Boxer.

[2] On 19 June 2024, in response to the Red Sea crisis, Psara was deployed to the Red Sea to protect shipping from Houthi attacks as part of the European Union's Operation Aspides.

The ship was equipped with new electronic warfare and anti-drone systems for the mission.

[3] On July 7, 2024 in the Gulf of Aden, HS PSARA, while providing close protection to a merchant vessel, engaged 4 UAVs which were posing a significant threat to the freedom of navigation.