Following two years of operations in the Hawaii area, the Shark set sail from Pearl Harbor on December 3, 1940, to join the Asiatic Fleet at Manila, Philippine Islands; and there was engaged in fleet tactics and exercises until the Japanese attack on Pearl Harbor. She departed Manila on December 9, 1941, and was at sea during the Japanese bombing raids on Manila the next day. For the next week she patrolled Tayabas Bay until ordered back to Manila on the 19th of December to take Admiral Thomas C. Hart, Commander-In-Chief of the U.S. Asiatic Fleet (ComSubAF), to Soerabaja (now named Surabaya (also where Emilia Earhart stopped on her fated flight on Jane 25, 1937), Java, in the (then) Dutch East Indies.

After having transported Admiral Hart and other officials to Soerabaja the Shark departed on January 5, 1942, for her second war patrol. She experienced a torpedo miss that was fired at her by an enemy submarine.

In anticipation of an enemy attack at Ambon (Ambiona), Maluku Province (Indonesia), ComSubAF directed the Shark to contact Dutch submarines at the harbor entrance of that island. On January 25, 1942, she was advised that heavy air raids on Ambon might indicate an enemy landing force moving to that island. Two days later she was ordered to take station as part of a submarine group reconnoitering a major enemy move through Molukka Passage. On January 29, because another move toward Ambon was indicated, she was ordered to cover the passage to the east of Lifeomatalo. The next day this area was enlarged to include that area around the Banka Passage. On February 2, the Shark reported to Soerabaja that she had been depth charged 10 miles off of Tifore Island and that she had missed on one torpedo attack.

Five days later the Shark reported an empty enemy cargo ship heading northeast. In response Soerabaja pointed out that such transmissions contained little information in appraising the situation; and that they might very possibly reveal to the enemy a position to avoid. No further messages were received from the Shark. She was told, on February 8, to proceed to Makassar Strait via the north coast and later to report information. Nothing further was heard from the Shark and on March 7, 1942, she was reported as presumed lost.

A Japanese report of antisubmarine attacks, now available, records at least three which might have been on the Shark. The most likely to have terminated her was on February 11, 1942, by depth charge from the destroyer Yamakaze, east of Menado in the northern Celebes since she had been ordered to this location. The exact attack, however, cannot be determined due to the activity in the area and the lack of accurate Japanese records at the beginning of the war.

The USS Shark (SS-174) received one battle star for World War II service. As she was lost with all souls onboard she is considered to be on Eternal Patrol. Although she is not on the active list of ships she has never been decommissioned.

Lost At Sea February 11, 1942, By Depth Charge.

Struck From the Navy List June 24, 1942.