Lexington was decommissioned at Bremerton, Washington, on 23 April 1947, and entered the National Defense Reserve Fleet.
While in reserve, she was designated attack carrier CVA-16 on 1 October 1952.
In September 1953, Lexington entered the Puget Sound Naval Shipyard.
She received the Essex-class SCB-27C and SCB-125 conversions in one refit, being then able to operate the most modern jet aircraft.
The most visible distinguishing features were an angled flight deck, steam catapults, a new island, and the hurricane bow.

Lexington was recommissioned on 15 August 1955, Captain A. S. Heyward Jr. in command.
Assigned to San Diego as her home port, she operated off California until May 1956, sailing then for a six-month deployment with the 7th Fleet.
She based on Yokosuka for exercises, maneuvers, and search and rescue missions off the coast of China, and called at major Far Eastern ports until returning San Diego on 20 December.
She next trained Air Group 12, which deployed with her on the next 7th Fleet deployment.
Arriving Yokosuka on 1 June 1957, Lexington embarked Rear Admiral H. D. Riley, Commander Carrier Division 1, and sailed as his flagship until returning San Diego on 17 October.
Lexington was decommissioned at Bremerton, Washington, on 23 April 1947, and entered the National Defense Reserve Fleet. While in reserve, she was designated attack carrier CVA-16 on 1 October 1952. In September 1953, Lexington entered the Puget Sound Naval Shipyard. She received the Essex-class SCB-27C and SCB-125 conversions in one refit, being then able to operate the most modern jet aircraft. The most visible distinguishing features were an angled flight deck, steam catapults, a new island, and the hurricane bow.
Lexington was recommissioned on 15 August 1955, Captain A. S. Heyward Jr. in command. Assigned to San Diego as her home port, she operated off California until May 1956, sailing then for a six-month deployment with the 7th Fleet. She based on Yokosuka for exercises, maneuvers, and search and rescue missions off the coast of China, and called at major Far Eastern ports until returning San Diego on 20 December. She next trained Air Group 12, which deployed with her on the next 7th Fleet deployment. Arriving Yokosuka on 1 June 1957, Lexington embarked Rear Admiral H. D. Riley, Commander Carrier Division 1, and sailed as his flagship until returning San Diego on 17 October.
USS Lexington (CV-16)