"Savo Island" was decommissioned on 12 December, and mothballed in the Atlantic Reserve Fleet, as part of its Boston group. Docked at the South Boston Naval Annex, she was reclassified as a helicopter escort carrier (CVHE-78) on 12 June 1955. She was then further reclassified as an aviation transport (AKV-28) on 7 May 1959. She was struck from the Navy list on 1 September 1959, and she was sold on 29 February 1960 to Comarket Inc., which broke her up in Hong Kong throughout June 1960. "Savo Island" received 4 battle stars for her World War II service. In addition, she received a Presidential Unit Citation for her service in the Western Carolines, the Philippines, and Okinawa from 6 September 1944 to 29 April 1945.