A novel soybean variety, designated XBP34007 is provided. Also provided are the seeds of soybean variety XBP34007, cells from soybean variety XBP34007, plants of soybean XBP34007, and plant parts of soybean variety XBP34007. Methods provided include producing a soybean plant by crossing soybean variety XBP34007 with another soybean plant, methods for introgressing a transgenic trait, a mutant trait, and/or a native trait into soybean variety XBP34007, methods for producing other soybean varieties or plant parts derived from soybean variety XBP34007, and methods of characterizing soybean variety XBP34007. Soybean seed, cells, plants, germplasm, breeding lines, varieties, and plant parts produced by these methods and/or derived from soybean variety XBP34007 are further provided.