The 53-year-old aircraft carrier USS Constellation will be towed from the mothball fleet at Bremerton this summer to Brownsville, Texas, where it will be scrapped.
The Navy Sea Systems Command says International Shipbreaking Limited will be paid $3 million, plus the proceeds from the recycling.
The Kitsap Sun reports the deal signed Friday by the Navy leaves three carriers in mothballs at the Puget Sound Naval Shipyard.
The Constellation was commissioned in 1961 and made six deployments during the Vietnam War. It also was deployed in the Persian Gulf, launching sorties into Iraq and Afghanistan, in 2003 before it was decommissioned later that year in San Diego.