The squadron is best known for carrying out one of the most daring raids of the Second World War in the Lancaster bombers, and famously deployed "bouncing bombs" against dams to flood the Ruhr Valley.
More than 70 years later, 617 Squadron flew in their Tornado GR4 aircraft for the last time, over the Afghan skies on Thursday.
Officer Commanding 617 Squadron, Wing Commander David Arthurton, will now bring the Dambusters back home to RAF Lossiemouth in Moray before it disbands temporarily.
The personnel will return to the base on Monday after a three-month tour of Afghanistan.
Wg Cdr Arthurton said: "It is fitting that this milestone event occurred on operations, delivering decisive air power much as our forebears did in 1943."
When the squadron reforms in 2016, 617 Squadron will have both RAF and Royal Navy personnel.