338 Squadron was formed at Sola, Stavanger on February 15, 1954 and is one of the youngest squadrons in the Royal Norwegian Air Force. The squadron was first equipped with the F-84G Thunderjet, and in October 1954 it was transferred to Orland air station, which since than has been it's permanent home. In June 1958, 338 skvadron received its first F-86F Sabre jets. However it wasn't until the spring of 1960 that the transition was complete. 338 Skv flew the Sabre until 1966, when it re-equipped with the F-5 Freedom Fighter, an aircraft that was flown for 19 years, until the arrival of the General Dynamics F-16.
When 336 Squadron disbanded, 338 inherited its tiger spirit, to ensure that Norway wouldn't los it's place within The NATO Tiger Association. In 2003 they became a full member.
As part of the NATO Immediate Reaction Force the unit has been very busy flying missions over the Balkans and taking part in Operation Enduring Freedom.
In 2018 all Norwegian F-16's where moved to a single squadron based at Bodø, and 338Skv was disbanded to prepare Ørland and the Norwegian Air Force for the arrival of the 5th Generation F-35 Lightning II.