Riverton was incorporated as a borough by an act of the New Jersey Legislature on December 18, 1893, from portions of Cinnaminson Township, based on the results of a referendum held six days earlier. Portions of the borough were taken to form Palmyra Township on April 19, 1894. The borough's name is derived from The Riverton Improvement Company, which was established after a group of ten purchased a that would be the site of a planned community with homes erected for many of the founders along the riverfront.