Established in early 1942 as a light bomb squadron, equipped with A-24 Banshees, although equipped with export model A-31 Vengeance dive bombers for training. Trained under Third Air Force in the southeast United States, also used for antisubmarine patrols over the Atlantic southeast coast and then Gulf of Mexico. Deployed to Southern California in early 1943 to the Desert Training Center, trained in light bombing while supporting Army maneuvers in the Mojave Desert until October. Re-equipped with North American A-36 Apache dive bombers and deployed to New Guinea as part of Fifth Air Force. In the Southwest Pacific the squadron attacked Japanese strong points and tactical positions and targets of opportunity in support of MacArthur's campaign along the north coast of New Guinea; then advancing into the Netherlands East Indies and Philippines as part of the Island Hopping campaign. Re-equipped with P-40s; then later A-20 Havocs. Engaged in heavy fighting on Leyte; Mindoro and Luzon in the Philippines during 1944–1945. The 386th was selected to carry out field operation testing of the Consolidated B-32 Dominator in mid-1945 and made test flights over Luzon and Formosa in June. The squadron moved to Okinawa in mid-August and after the Atomic Bomb missions had been flown. It flew several combat operations with the B-32 in spite of the de facto cease-fire that had been called following the bombing of Nagasaki. During this time, the B-32s flew mainly photographic reconnaissance missions, most of which were unopposed. However, during a reconnaissance mission over Tokyo on 18 August, two B-32s were attacked by Japanese fighters. The American gunners claimed two kills and one probable, but one aircraft was badly shot up and one of her crew was killed with two being injured. This was to prove to be the last combat action of World War II. After VJ-Day, the surviving B-32 aircraft were ordered to return to the United States, ending the test program. The 386th remained on Okinawa until December until returning to the United States with most personnel demobilizing. It was inactivated as a paper unit on 6 January 1946. The squadron was reactivated as a B-29 Superfortress unit in the reserves in 1947, but lack of funding and personnel led to rapid inactivation. It transferred to Tactical Air Command in the mid-1950s and activated first with F-86 Sabres, then F-100 Super Sabres in 1958. The squadron was inactivated in 1959 when its parent 312th Tactical Fighter Wing was inactivated and redesignated as the 27th Tactical Fighter Wing. Personnel and equipment of the squadron were re-designated as the 522d Tactical Fighter Squadron.
Lineage
Constituted 386th Bombardment Squadron on 28 January 1942
Redesignated: 386th Bombardment Squadron on 14 July 1947
Redesignated: 386th Fighter-Bomber Squadron on 29 July 1954