Formerly Bang Bon was a tambon of amphoeBang Khun Thian in Thonburi Province, prior to the merger of Thonburi and Phra Nakhon into a single province, after which it was a sub-district of Bang Khun Thian District.
On 14 October 1997, Bang Bon was split from Bang Khun Thian and established as a new district. The district office opened on 6 March 1998, the last of Bangkok's 50 districts to open, first established temporarily at the Thepyada Arak Fresh Market building, but later moved to a permanent location on Ekkachai Road.
The name Bang Bon is reference to a type of herbaceous in taro family called bon (บอน, pronounced[bɔ̄ːn]) in Thai, also known internationally as elephant ears (Colocasia esculenta var. aquatilis). Bang Bon is therefore "a place of elephant ears".