VF-111 was disestablished as a fleet squadron at then-NAS Miramar, California in 1995 due to post-Cold War force reductions.

Officially, in contrast with the U.S. Air Force, the U.S. Navy does not recognize a direct lineage with disestablished squadrons.

[3] However, unofficially, the Naval Aviation community strives to retain traditions and history whenever a squadron designation and name is resurrected in a new unit.

VFC-111's unique location at NAS Key West, Florida, home of the Navy's Strike Fighter Air Readiness Program (SFARP), eliminates costly adversary detachments and provides an on-site resource for carrier air wings conducting SFARP training at NAS Key West and on the adjacent Key West Tactical Air Combat Training System (TACTS) Range.

VFC-111 has also commenced support to VAQ-129, the FRS for the EA-18G Growler at NAS Whidbey Island, Washington, as well as the Navy and Marine Corps F-35C Fleet Replacement Squadron, VFA-125 at NAS Lemoore, California, and the Marine Corps' F-35B Fleet Replacement Squadron, VMFAT-501 at MCAS Beaufort, South Carolina.