The squadron was formed in February 1942 for service during World War II, operating Short Empire flying boats and a variety of smaller aircraft.

The unit was re-established in February 1981 as a flight, equipped with two Boeing 707s for VIP and other long-range transport duties out of RAAF Base Richmond, New South Wales.

One of its aircraft was deployed to the Middle East in September 2014 as part of Operation Okra, Australia's contribution to the war against the Islamic State.

Air-to-air refuelling is considered a force multiplier, permitting the RAAF to increase the range and loiter time of its aircraft.

11 Squadron, along with several smaller types including de Havilland Dragons and Tiger Moths, Avro Ansons, and Vultee Vigilants.

[5][12] The squadron suffered its first loss on 27 February, when one of the Empires crashed on landing at Townsville; the six crew members were killed.

[5] Two months later the commanding officer, Squadron Leader Charles Gurney, was killed while co-piloting a USAAF Martin B-26 Marauder that crashed after attacking Rabaul.

33 Squadron's tasks was search-and-rescue; on 8 August 1942 it lost another Empire that sank in heavy seas off the coast of New Guinea during an attempt to rescue survivors of a torpedoed ship.

33 Squadron transferred to Port Moresby in January 1943, providing air transport to Australian forces involved in the New Guinea campaign.

Transport needs were so desperate in New Guinea that even the Tiger Moths were employed, delivering a total of 77 kilograms (170 lb) per trip.

[5] In 1978, the Australian government decided to purchase two passenger jets for strategic transport, primarily to mitigate what it saw as the risk of terrorist attack inherent in carrying VIPs on commercial flights.

[15] Purchasing big jets for VIPs was controversial, but the 707s were also intended for general long-range transport, being capable of carrying cargo or up to 160 passengers.

[12][15] Responsible for transporting VIPs such as members of the British Royal Family, the Governor-General, the Prime Minister, and the Pope, the 707 also became the first RAAF aircraft to land in the Soviet Union, the occasion being the funeral of Konstantin Chernenko in 1985.

[15][17] The RAAF had argued for an air-to-air refuelling capability for both the F/A-18s and the F-111s, but the Australian government refused to fund the latter, considering the F-111's existing range sufficient for deterrent purposes.

Observers such as journalist Frank Cranston speculated that aside from any cost issues, the government was concerned that extending the bombers' range would signal to the region that Australia was adopting a more aggressive defence posture.

On 29 October 1991, one of the transport-configured 707s crashed into the sea during a training flight out of East Sale, Victoria; all five crew members were killed.

[25] The Coroner's first recommendation related to the need for appropriate simulation for this type of training, an area not properly recognised or addressed by the RAAF at the time.

On 5 March, one of the 707s undertook the first operational aerial tanker mission since the squadron's re-formation in 1983, when it refuelled six Panavia Tornados of the Royal Air Force (RAF) over Saudi Arabia.

[33][34] Located at Manas Air Base in Kyrgyzstan, the 707s provided aerial refuelling to coalition aircraft operating in the theatre, their efforts earning No.

[37][38] The squadron was awarded the Gloucester Cup in May 2007 for "its high levels of proficiency demonstrated over the year" in spite of the challenges of operating the obsolescent 707s, and for having "performed superbly on a number of high-profile missions".

[40] The last one in service, an ex-Qantas jet named "Richmond Town", made a low-level farewell flight over Sydney on 30 June in the company of smaller aircraft filming the occasion, which gave rise to fear in some quarters that a 9/11-style terrorist attack was in progress.

[42] It was presented with a Squadron Standard by Queensland Governor Penelope Wensley on 2 June 2010, to commemorate "25 years of faithful and outstanding service".

[43] Having been without aircraft for three years, the squadron began re-equipping with the first of five Airbus KC-30A Multi Role Tanker Transports on 1 June 2011.

[44][45] In March 2012, one of the KC-30s set a record for the number of passengers carried on an RAAF aircraft, 220 cadets from the Australian Defence Force Academy.

[48] On 14 September that year, the Federal government committed to deploying one of the squadron's KC-30s to Al Minhad Air Base in the United Arab Emirates, as part of Operation Okra, Australia's contribution to a coalition to combat Islamic State forces in Iraq.

33 Squadron's fleet to seven aircraft; the airframes were to be ex-Qantas A330-200 passenger liners, converted by Airbus Defence and Space at Getafe, near Madrid.

[56] The unit's sixth KC-30 was delivered to Amberley in September 2017 and its seventh in May 2019, the latter aircraft having a VIP passenger-carrying capability to augment its aerial refuelling role.