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Route 347 commenced operations on 6 November 2004, replacing mobility route 952.
On 15 October 2005, the contract for the route passed from First London to Blue Triangle. The route was retained by Blue Triangle on 16 October 2010.
On 17 October 2015, the route passed to Arriva Kent Thameside before transferring to Arriva London in January 2016 following a restructure of bus operations by Arriva.
In March 2023, Transport for London launched a public consultation on proposals to withdraw the route, being partially replaced by an extension of route 497. In January 2024, it was confirmed that the route would not be withdrawn, instead continuing to operate under review.
In December 2024, following the extension of route 346 and further review, it was confirmed that the route would be withdrawn. Route 347 was withdrawn on 18 January 2025.
The route was notable for being the least frequent regular bus route in London (excluding school and mobility routes). The route operated four journeys in each direction every two hours on weekdays and Saturdays only with no Sunday service.