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Peanut is one of the top oil-seed crops grown in Asian countries. Peanut is widely grown in the tropics and subtropics, being important to both small and large commercial growers. Peanut is an annual herbaceous plant that may reach up to 50 cm height. Peanut belongs to the family of “Fabaceae” and genus of “Arachis”. India is the second largest producer of Peanuts next to China in Asia. Peanuts are used in culinary preparation by roasting, making peanut flour and extracting peanut oil. Peanuts are rich in essential nutrients. In a 100 grams serving of peanuts provide 550 calories and are an excellent source of several B vitamins, vitamin E, several dietary minerals, such as manganese, magnesium and phosphorus, and dietary fiber. Peanut seed contains about 40 to 45 % of oil and 25 % of protein. Peanut kernel is very easy digestible and the oil cake obtained afterthe extraction of the oil from Peanut is a valuable organic manure and animal feed. It contains 6 % ‘N’, 1 %phosphorus and 1% potash. Peanut is a good rotation crop which builds up the soil fertility by fixing atmospheric nitrogen through the root nodules. Peanut Farming is also an excellent cover crop especially for lands exposed to soil erosion. Commercial Farming of Peanut is pretty much successful and one can easily make decent profits provided certain field management procedures are practiced.