Its northern terminus is at a T-intersection with State Route 61 less than 1 mile (1.6 km) south of the city limits of Shelby.

It was originally routed entirely within Morrow County, along its present alignment between the SR 95 junction in Chesterville and the US 42 intersection southwest of Lexington.

It was routed along previously un-numbered roadways to a new endpoint at its present southern terminus at the US 36/SR 3 duplex in Centerburg.

[5][6] Then, in 1939, SR 314 was lengthened on the north end when it was extended along roads that were previously locally-maintained to its current northern terminus at SR 61 south of Shelby.

[7][8] Media related to Ohio State Route 314 at Wikimedia Commons