It was built as USS PCE-897, a PCE-842- class patrol craft escort of the United States Navy during World War II. She was decommissioned from the U.S. Navy and transferred to the Philippine Navy in July 1948 and renamed RPS Iloilo (E-32) to honor Iloilo as Province of the Philippines .
Between 1965-1966 she was renamed as RPS Iloilo (PS-32) using a new classification system.
On 7 July 1973, Iloilo, as part of Task Force 32 Naval Gunfire Support Group under the command of Cdr. Vicente Escala (PN), provided pre-assault bombardment in support of Landing Force 33 during Operation "Pamukpok" against the insurgent group in Tuburan, Basilan led by Huden Abubakar Aka Juden Salikala
By June 1980 , The name changed into BRP Iloilo (PS-32) using a new localized prefix ( Barko ng Republika ng Pilipinas Iloilo or PS32)
Between 1990 and 1991 the Iloilo underwent major overhaul, weapons and radar systems refit, and upgrade of communications gear.
Final armaments fitted to the ship are one Mk.26 3"/50-caliber gun (fore), three single Bofors 40 mm cannons (aft), four Mk.10 Oerlikon 20 mm cannons (2 each on bridge wings), and four M2 Browning 12.7 mm/50 caliber machine guns (2 besides main bridge, 2 aft near the lower Bofors gun tub). This made the ship lighter and ideal for surface patrols, but losing her limited anti-submarine warfare capability
On 2009 , Sunday,27 December , BRP Iloilo was used two days of sea surface search for missing passengers Sinking of MV Catalyn B and MV Baleno
The ship is powered by two GM 12-278A diesel engines, with a combined rating of around 2,200 bhp (1,600 kW) driving two propellers. The main engines can propel the 914 tons (full load) ship to a maximum speed of around 16 knots (30 km/h)
On 2012 , BRP Iloilo was tested included antiaircraft guns, 25mm naval guns and heavy machine guns while underwent system repairs at the naval shipyard in Sangley Point, Cavite City.