We present observations of continuum (lambda = 0.7, 1.3, 3.6 and 18 cm) and OH maser (lambda = 18 cm) emission toward the young planetary nebula IRAS 17347-3139, which is one of the three planetary nebulae that are known to harbor water maser emission. From the continuum observations we show that the ionized shell of IRAS 17347-3139 consists of two main structures: one extended (size ~1. 5) with bipolar morphology along PA=-30 degrees, elongated in the same direction as the lobes observed in the near-infrared images, and a central compact structure (size ~0. 25) elongated in the direction perpendicular to the bipolar axis, coinciding with the equatorial dark lane observed in the near-infrared images. Our image at 1.3 cm suggests the presence of dense walls in the ionized bipolar lobes. We estimate for the central compact structure a value of the electron density at least ~5 times higher than in the lobes. A high resolution image of this structure at 0.7 cm shows two peaks separated by about 0. 13 (corresponding to 100-780 AU, using a distance range of 0.8-6 kpc). This emission is interpreted as originating in an ionized equatorial torus-like structure, from whose edges the water maser emission might be arising. We have detected weak OH 1612 MHz maser emission at VLSR ~ -70 km/s associated with IRAS 17347-3139. We derive a 3 sigma upper limit of < 35% for the percentage of circularly polarized emission. Within our primary beam, we detected additional OH 1612 MHz maser emission in the LSR velocity ranges -5 to -24 and -90 to -123 km/s, associated with the sources 2MASS J17380406-3138387 and OH 356.65-0.15, respectively.