On April 10, 1944, she weighed anchor for Ulithi Atoll where she arrived ten days later. After an overnight stay in the lagoon, Shangri-La departed Ulithi in company with Haggard (DD-555) and Stembel (DD-644) to report for duty with Vice Admiral Marc A. Mitscher's Fast Carrier Task Force. On 24 April, she joined TG 58.4 while it was conducting a fueling rendezvous with TG 50.8. The next day, Shangri-La and her air group, CVG-85, launched their first strike against the Japanese. The target was Okino Daito Jima, a group of islands several hundred miles to the southeast of Okinawa. Her planes successfully destroyed radar and radio installations there and, upon their recovery, the task group sailed for Okinawa. Shangri-La supplied combat air patrols for the task group and close air support for the 10th Army on Okinawa before returning to Ulithi on 14 May.

While at Ulithi, Shangri-La became the flagship of the 2nd Carrier Task Force. Vice Admiral John S. McCain, Sr. hoisted his flag in Shangri-La on 18 May. Six days later, TG 58.4, with Shangri-La in company, sortied from the lagoon. On 28 May, TG 58.4 became TG 38.4 and Vice Admiral McCain relieved Vice Admiral Mitscher as Commander, Task Force 38, retaining Shangri-La as his flagship. On 2 June and 3 June, the task force launched air strikes on the Japanese home islands--aimed particularly at Kyūshū, the southernmost of the major islands. Facing the stiffest airborne resistance to date, Shangri-La's airmen suffered their heaviest casualties.

On 4 June and 5 June, she moved off to the northwest to avoid a typhoon; then, on the 6th, her planes returned to close air support duty over Okinawa. On the 8th, her air group hit Kyūshū again, and, on the following day, they came back to Okinawa. On the 10th, the task force cleared Okinawa for Leyte, conducting drills en route. Shangri-La entered Leyte Gulf and anchored in San Pedro Bay on 13 June. She remained at anchor there for the rest of June, engaged in upkeep and recreation.