Vengeance was transferred to the Royal Australian Navy on 13 November 1952.
She was recommissioned as an Australian ship on this date, and received the prefix HMAS.
Departing from Devonport at the end of 1952, the carrier sailed to Australia via the Mediterranean, and arrived in Fremantle on 26 February 1953.
She reached Sydney in March, and was marked as fully operational in June.
In late 1953, Vengeance was prepared for a deployment to Korea, to support the United Nations enforcement of the July 1953 armistice.
The deployment did not go ahead: HMAS Sydney was sent instead.

From February until April 1954, Vengeance was tasked with escorting the royal yacht Gothic through Australian waters during the Royal Visit of Queen Elizabeth II to Australia.
On 9 March 1954, while in Port Philip Bay, a whaler transporting 30 sailors to the carrier hit a series of freak waves and capsized.
Two sailors were killed.
Navy divers were involved in rescuing the survivors, with one earning the British Empire Medal for his efforts.
On 3 April, while escorting Gothic to the Cocos Islands with the destroyers Bataan and Anzac accompanying, Vengeance's ship's company assembled on the flight deck and positioned themselves to form the Queen's signature.
After later seeing an aerial photograph of this, Her Majesty had a message sent to the carrier, saying "Thank you for the original forgery."
On 5 April, after arriving at the Cocos Islands, Vengeance was involved in a collision with Bataan while the destroyer attempted to refuel from the carrier.
Bataan's bow made contact with Venegance's side, but the damage was minor, and both ships returned to Sydney in May without assistance, after visiting Manus Island and Rabaul.

In June 1954, Vengeance was removed from active service and reclassified as the RAN's primary training ship.
The previous training ship, the cruiser HMAS Australia, had been earmarked in mid-1953 to be decommissioned and scrapped, as modernising her would have been uneconomical.
At the same time, the RAN was exploring avenues to reduce operating costs: the reduction of naval aviation from two active carriers to one would provide significant savings.
The removal of Vengeance from active service, combined with the need to find a replacement training ship for Australia which was large enough to accommodate the large number of National Service trainees, saw the carrier placed in the training role.
On 31 August, Vengeance accompanied Australia during the latter's final voyage before decommissioning.
The carrier sailed to Japan in late October; her first departure from Australian waters while in RAN service.
Vengeance returned to Australia in November, after collecting No.
77 Squadron RAAF.
Vengeance was transferred to the Royal Australian Navy on 13 November 1952. She was recommissioned as an Australian ship on this date, and received the prefix HMAS. Departing from Devonport at the end of 1952, the carrier sailed to Australia via the Mediterranean, and arrived in Fremantle on 26 February 1953. She reached Sydney in March, and was marked as fully operational in June. In late 1953, Vengeance was prepared for a deployment to Korea, to support the United Nations enforcement of the July 1953 armistice. The deployment did not go ahead: HMAS Sydney was sent instead.
From February until April 1954, Vengeance was tasked with escorting the royal yacht Gothic through Australian waters during the Royal Visit of Queen Elizabeth II to Australia. On 9 March 1954, while in Port Philip Bay, a whaler transporting 30 sailors to the carrier hit a series of freak waves and capsized. Two sailors were killed. Navy divers were involved in rescuing the survivors, with one earning the British Empire Medal for his efforts. On 3 April, while escorting Gothic to the Cocos Islands with the destroyers Bataan and Anzac accompanying, Vengeance's ship's company assembled on the flight deck and positioned themselves to form the Queen's signature. After later seeing an aerial photograph of this, Her Majesty had a message sent to the carrier, saying "Thank you for the original forgery." On 5 April, after arriving at the Cocos Islands, Vengeance was involved in a collision with Bataan while the destroyer attempted to refuel from the carrier. Bataan's bow made contact with Venegance's side, but the damage was minor, and both ships returned to Sydney in May without assistance, after visiting Manus Island and Rabaul.
In June 1954, Vengeance was removed from active service and reclassified as the RAN's primary training ship. The previous training ship, the cruiser HMAS Australia, had been earmarked in mid-1953 to be decommissioned and scrapped, as modernising her would have been uneconomical. At the same time, the RAN was exploring avenues to reduce operating costs: the reduction of naval aviation from two active carriers to one would provide significant savings. The removal of Vengeance from active service, combined with the need to find a replacement training ship for Australia which was large enough to accommodate the large number of National Service trainees, saw the carrier placed in the training role. On 31 August, Vengeance accompanied Australia during the latter's final voyage before decommissioning. The carrier sailed to Japan in late October; her first departure from Australian waters while in RAN service. Vengeance returned to Australia in November, after collecting No. 77 Squadron RAAF.
HMS Vengeance (R71)