 Hancock retired from the Air Force in May 1965 after completing his term as CAS, which the government had extended for twelve months beyond its original three years. Having followed two fellow Royal Military College graduates — McCauley and Scherger — in the role, he was succeeded by another former Duntroon cadet, Alister Murdoch. Hancock's name was put forward as a successor to Scherger when the latter's term as Chairman of the Chiefs of Staff Committee completed in May 1966, but Prime Minister Sir Robert Menzies preferred General Sir John Wilton for the position. Later the same year, Hancock took over as Commissioner-General for Australia at Expo 67 in Montreal, Canada, following the sudden death of the previous appointee, Vice Admiral Sir Hastings Harrington. In 1975, prompted in part by the fall of Saigon in April that year, Hancock co-founded the Australia Defence Association as an independent think tank for defence matters, and chaired its Western Australian chapter. He was also active in the Royal Commonwealth Society, and published an autobiography, Challenge, in 1990. Hancock continued to fly in retirement, joining his cousin Lang, also a pilot, in promoting the Pilbara mining district. Val Hancock died in Perth on 29 September 1998, and was survived by his wife and three children. He is commemorated by Sir Valston Hancock Drive at Evans Head.
