The Wing was first activated as the 128th Fighter Wing in November 1950, when the Air National Guard converted its units to the Wing Base organization, which placed operational and support units under a single wing. Four months later, the Wing was federalized in the second wave of Air National Guard callups for the Korean War, and assigned to Air Defense Command. It moved to Truax Field near Madison, Wisconsin where both the 126th and 176th Fighter-Interceptor Squadron flew air defense training missions until being inactivated in February 1952. The Wing returned to Wisconsin state control and to its station near Milwaukee in November.
With the end of the Cold War, the early 1990s marked several changes. On 16 March 1992, the Wing became the 128th Fighter Wing and shortly thereafter changed its mobilization command change from Tactical Air Command to the newly created Air Combat Command.
In 1993, the Wing began transitioning from the A-10A to the F-16C/D block 30 Fighting Falcon airframes with the enlarged inlet, the A-10s were transferred to other ANG units. The first F-16s arrived at Truax ANGB on 1 April 1993. The current role of the 176th FS is air-interdiction and close air support (CAS). This was the same task as when they flew the A-10, although the transition to the F-16 meant a huge change in the overall execution of this mission when comparing the A-10 with the F-16.
On 11 October 1995, the 128th Fighter Wing was renamed the 115th Fighter Wing and converted to the Objective Wing organization with its operational squadron assigned to the 115th Operations Group. The 128th designation duplicated that of the 128th Air Refueling Wing at General Mitchell Air National Guard Base, another Wisconsin Air National Guard unit, which upgraded from group status.
Operations participated in by the 115th Fighter Wing include: Operation Coronet Chariot, Karup AS, Denmark 1994, Operation Northern Watch, Incirlik AB, Turkey 1997, Operation Southern Watch, Al Jaber AB, Kuwait 1997-98, Operation Southern Watch, Prince Sultan AB, Saudi Arabia 1999, Operation Coronet Nighthawk, Curacao, Netherlands Antilles 2001, Operation Enduring Freedom, Al Udeid AB, Qatar 2004–05, Balad AB, Iraq, 2006, 08, & 09, Africa, 2013 and Operation Noble Eagle, from 11 September 2001 to the present.
In its 2005 BRAC Recommendations, the DoD recommended to close Cannon Air Force Base, New Mexico. As a result, three of the 27th Fighter Wing's F-16s were to be distributed to the 115th Fighter Wing amongst other aircraft moves.
The 176th Fighter Squadron celebrated its 60th anniversary in October 2008.
Today the Wing is capable of air-to-air, close air support and precision guided bombing missions. The wing operates the latest generation of munitions such as the JDAMseries bombs and the AIM-9X air-to-air missile.