The contract to build Pargo was awarded to the Electric Boat Division of General Dynamics Corporation in Groton, Connecticut, on 26 March 1963 and her keel was laid down there on 3 June 1964. She was launched on 17 September 1966, sponsored by Mrs. James L. Holloway, Jr., the wife of retired Admiral James L. Holloway, Jr. (1898–1984), and commissioned on 5 January 1968 with Commander Steven A. White in command.