According to the invention, there is provided a novel soybean variety designated XB31M07. This invention thus relates to the seeds of soybean variety XB31M07, to the plants of soybean XB31M07 to plant parts of soybean variety XB31M07 and to methods for producing a soybean plant produced by crossing plants of the soybean variety XB31M07 with another soybean plant, using XB31M07 as either the male or the female parent.