Siboney is a town near Santiago, Cuba, where American troops landed in 1898. This was the second ship of the name. Todd-Pacific at Tacoma laid her down as Frosty Bay on 1 April 1944, renamed her Siboney on 26 April, and launched her on 9 November. Mrs. Charles F. Greber sponsored her. Captain Stanhope Cotton Ring commissioned her on 14 May 1945.
She finished fitting out in the Seattle area on 23 May and on 31 May sailed for San Diego by way of Alameda. She shook down in the Bay Area until 3 August, then loaded bombs, aircraft, and the men of Air Group 36. On 8 August she left for Pearl Harbor. The fighting stopped the day before she arrived. She came in on 15 August and discharged her cargo.
She stayed in Hawaiian waters until early September, then sailed for Okinawa by way of the Marshalls, the Carolines, and the Philippines. On 5 October she left Buckner Bay for Honshu. On the way she searched for Rear Admiral William D. Sample and the patrol plane in which he had been missing since 2 October. She called on Honshu from the 8th to the 11th and continued the search. The plane was not found. She operated in the Tokyo Bay area from 24 October to 16 November, then was ordered home. After calls at Saipan, Manila, Hong Kong, Guam, and Pearl Harbor she reached San Diego on 23 January 1946. She deployed to the western Pacific again from 15 February to 7 May 1946.
On 9 June 1947 she left San Diego for Norfolk, by the Panama Canal, and arrived on 26 June. She operated between Norfolk and Guantanamo Bay until November, when she was inactivated. She returned to duty in March 1948, ferried aircraft to Yesilkoy, Turkey, in May, and made another voyage to the Near East before a three-month overhaul at Boston that began in October 1948. She served with the Atlantic Fleet until 6 December 1949, when she joined the inactive fleet at Philadelphia.
The Korean War brought her back. She was returned to active status on 22 November 1950 and worked from Norfolk, in the Caribbean, the Mediterranean, and with a hunter-killer group. In October 1955 her helicopters flew relief into Tampico after a hurricane. Her last cruise with the Sixth Fleet ended on 6 July 1956. She reached Philadelphia on 27 July and four days later, on 31 July, was placed in reserve, out of commission. She was struck on 1 June 1970 and sold the next year for scrap.