Originally established on 16 August 1948 as VF-53, it was redesignated VF-124 at NAS Moffett Field on 11 April 1958 due to a need for an increased number of flight training squadrons, itself necessary because of introduction of swept wing fighters into Navy service.

In 1961, the squadron relocated to NAS Miramar, California, which would become the U.S. Pacific Fleet's Master Jet Base for fighter aircraft.

The squadron was disestablished on 30 September 1994 and its F-14 FRS mission consolidated with its U.S. Atlantic Fleet counterpart, VF-101, at NAS Oceana, Virginia.

[2] VF-53 equipped with F4U-4B Corsairs was assigned to Carrier Air Group 5 aboard USS Valley Forge from 1 May to 1 December 1950 and was one of the first navy squadrons deployed to the Korean War.

VF-124 was assigned to go embark the USS Hancock to test the British steam catapult system and then deploy on a Western Pacific (WESTPAC) cruise to Japan.

The first set of replacements pilots, NFOs and maintenance personnel trained by VF-124 took to sea in December 1974, flying day and night carrier qualifications of the deck of USS Kitty Hawk.

By December 1988, VF-124 had trained 1502 aircrew, over 14,400 maintenance personnel and flown over 153,193 flight hours and VF-124 also achieved 124 days without any Foreign Object Damage.