SharePoint Online: Export List Version History to Excel using PowerShell

Requirement: Export all versions of SharePoint Online List Items to CSV (Excel) file.

PowerShell to Extract and Export List Item's Version History to CSV File:
This article assumes you have an existing SharePoint Online list with columns given below. You may have to create and change columns according to your requirement.

#Load SharePoint CSOM Assemblies
Add-Type -Path "C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\16\ISAPI\Microsoft.SharePoint.Client.dll"
Add-Type -Path "C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\16\ISAPI\Microsoft.SharePoint.Client.Runtime.dll"

Function Export-VersionHistory()
{
  param
    (
        [Parameter(Mandatory=$true)] [string] $SiteURL,
        [Parameter(Mandatory=$true)] [string] $ListName,
        [Parameter(Mandatory=$true)] [string] $CSVFile
    )
    Try {

        #Delete the Output report file if exists
        if (Test-Path $CSVFile) { Remove-Item $CSVFile }

        #Get Credentials to connect
        $Cred= Get-Credential
        $Credentials = New-Object Microsoft.SharePoint.Client.SharePointOnlineCredentials($Cred.Username, $Cred.Password)

        #Setup the context
        $Ctx = New-Object Microsoft.SharePoint.Client.ClientContext($SiteURL)
        $Ctx.Credentials = $Credentials
        
        #Get the List
        $List = $Ctx.Web.Lists.GetByTitle($ListName)
        $Ctx.Load($List)
        $Ctx.ExecuteQuery()
        
        #Get all items
        $Query = [Microsoft.SharePoint.Client.CamlQuery]::CreateAllItemsQuery()
        $ListItems = $List.GetItems($Query)
        $Ctx.Load($ListItems)
        $Ctx.ExecuteQuery()

        #Array to hold result
        $VersionHistoryData = @()

        #Iterate throgh each item
        Foreach ($Item in $ListItems)
        {
            write-host "Processing Item:" $item.id -f Yellow
            
            #Get all versions of the list item
            $Versions = $Item.versions
            $ctx.Load($Versions)
            $Ctx.ExecuteQuery()

            If($Versions.count -gt 0)
            {
                #Iterate each version
                Foreach($Version in $Versions)
                {
                    #Get the Creator object of the version
                    $CreatedBy =  $Version.createdby
                    $Ctx.Load($CreatedBy)
                    $Ctx.ExecuteQuery()

                    #Send Data to object array
                    $VersionHistoryData += New-Object PSObject -Property @{
                    'Item ID' = $Item.ID
                    'Title' =  $Version.FieldValues["Title"]
                    'Version Label' = $Version.VersionLabel 
                    'Version ID' = ($Version.VersionId/512)
                    'Created On' = (Get-Date ($Version.Created) -Format "yyyy-MM-dd/HH:mm:ss")
                    'Created By' = $CreatedBy.Email
                    }
                }
            }
        }
        
        #Export the data to CSV
        $VersionHistoryData | Export-Csv $CSVFile -Append -NoTypeInformation

        write-host -f Green "Version History Exported Successfully to:" $CSVFile
     }
    Catch {
        write-host -f Red "Error Exporting version History to CSV!" $_.Exception.Message
    }
}

#Set parameter values
$SiteURL="https://crescent.sharepoint.com"
$ListName="Projects"
$CSVFile="C:\Temp\VersionHistory.csv"

#Call the function to generate version History Report
Export-VersionHistory -SiteURL $SiteURL -ListName $ListName -CSVFile $CSVFile

This script produces a CSV file with version data such as:

• Version Label,
• Version ID
• When the version was created
• Who created the version
• Title field value of the version (You can add any additional field too!)

For SharePoint On-Premises, use this script: How to Export SharePoint Version History to CSV using PowerShell?

PnP PowerShell to Extract Version History of All Items in a List
Let's export all previous versions of items from a list to a CSV file using PnP PowerShell.

#Set Variables
$SiteURL = "https://crescent.sharepoint.com/sites/Marketing"
$ListName = "Announcements"
$CSVPath = "C:\Temp\VersionHistoryRpt.csv"
 
#Connect to SharePoint Online site
Connect-PnPOnline -Url $SiteURL -Credentials (Get-Credential)

#Get All Fields from List
$ListFields = Get-PnPField -List $ListName | Where {!$_.Hidden}
$VersionHistoryData = @()

#Get All List Items - Exclude Folders
Get-PnPListItem -List $ListName -PageSize 500 | Where {$_.FileSystemObjectType -ne "Folder"} | ForEach-Object {
    Write-host "Getting Versioning Data of Item:"$_.ID
    $Versions = Get-PnPProperty -ClientObject $_ -Property Versions
    ForEach($Version in $Versions)
    {
        $VersionHistory =  New-Object PSObject
        $VersionHistory | Add-Member -MemberType NoteProperty -Name "Version ID" -Value ($Version.VersionId/512)
        $VersionHistory | Add-Member -MemberType NoteProperty -Name "Version Label" -Value $Version.VersionLabel
        $VersionHistory | Add-Member -MemberType NoteProperty -Name "Created On" -Value (Get-Date ($Version.Created) -Format "yyyy-MM-dd/HH:mm:ss")

        #Get Value of all other Fields
        $ListFields | ForEach-Object {
            #Get the value of Person or Lookup fields
            $FieldType = $_.GetType().Name
            If (($FieldType -eq "FieldLookup") -or ($FieldType -eq "FieldUser"))
            {
                $FieldValue = $Version[$_.InternalName].LookupValue
            }
            Else
            {
                $FieldValue = $Version[$_.InternalName]
            }
            #Append Version data
            $VersionHistory | Add-Member -MemberType NoteProperty -Name $_.InternalName -Value $FieldValue
        }
        $VersionHistoryData+=$VersionHistory
    }
}
$VersionHistoryData | Export-Csv $CSVPath -NoTypeInformation