SR 547 was designated in 1937 along the routing that it occupies to this day between SR 269 and US 20/SR 18. The highway has not experienced any major changes to its routing since it was first designated. As SR 547 follows narrow two-lane Monroe Street through Monroeville between SR 99 and US 20/SR 18, trucks are prohibited from this stretch of highway. Consequently, a Truck State Route 547 (SR 547 Truck) is signed, starting from the junction of SR 547 and SR 99, following SR 99 north to US 20/SR 18, then following the concurrency southeasterly to downtown Monroeville intersection marking SR 547's eastern terminus, which doubles as the truck route's endpoint.