According to the invention, there is provided a novel soybean variety designated XB34R07. This invention thus relates to the seeds of soybean variety XB34R07, to the plants of soybean XB34R07 to plant parts of soybean variety XB34R07 and to methods for producing a soybean plant produced by crossing plants of the soybean variety XB34R07 with another soybean plant, using XB34R07 as either the male or the female parent.