Originally established on 15 June 1943, it was disestablished on 19 November 1945.

It was the only US Navy squadron to be designated as VF-40.

[1] VF-40 equipped with the F6F Hellcat supported the New Georgia Campaign deploying to Henderson Field on Guadalcanal in September 1943.

[2] While deployed in the Solomon Islands during 1943, VF-40 shot down 4 Japanese aircraft.

[3] VF-40 later supported the Borneo campaign (1945).