Extractor was launched by Colberg Boat Works, Stockton, California, on 15 June 1943 (sponsored by Mrs. Lowden Jessup), and commissioned on 3 March 1944.
Extractor sailed from San Francisco on 8 May 1944 en route to Eniwetok where she reported to Commander Service Squadron 2 (ServRon 2) for salvage and rescue duty. During the summer of 1944 she executed repairs, diving, and towing as well as salvage operations from Pearl Harbor to Eniwetok and Ulithi. On 20 November while at Ulithi she fought futilely against fire on board which capsized and sank.
On 3 December 1944 she steamed to Guam, reporting for duty with Service Squadron 12 (ServRon 12), with which she served until 21 January 1945 when she departed unescorted for the Philippine area. She was underway on the morning of 24 January when, through mistaken identification by, the latter fired a torpedo which struck Extractors starboard side. The salvage ship capsized and sank at 15.7333°N 164°W, within five minutes. Six people died and the remainder rescued by Guardfish.