To increase utilities as functional materials, nine peanut varieties were evaluated on antioxidant activity and total phenol content. Peanut varieties were individually divided into three parts such as part without seed coat, seed coat, and seed. Each of the 80% ethanol-extracted solutions from the parts was used for the assay. Inhibitory activities on low density lipoprotein (LDL) oxidation by the part without seed coat, seed coat, and seeds from 9 varieties were respectively 85.3∼91.0%, 77.4∼85.8%, -1.7∼46.1%, and those on linoleic acid oxidation were 94.0∼94.9%, 94.2∼95.0%, 69.4∼80.2%, respectively. Seed coats, parts without seed coat, and seeds from 9 peanut varieties showed scavenging activities as 88.3∼98.7%, 16.7∼56.3%, -28.0∼20.0% on superoxide anion radical and as 89.9∼90.8%, 6.0∼12.0%, 0.6∼2.1% on 1,1-diphenylpicrylhydrazyl (DPPH) radical, respectively. Total phenol contents of seed coat, seed, and part without seed coat were 12.7∼21.0 mg%, 2.46∼4.24 mg%, 0.94∼1.16 mg% as tannic acid equivalent and those of Daekwang, Daesin, Bowon, Saedl, Kipung among the peanut varieties were comparatively high. In conclusion, Daekwang, Daesin, Kipung, and Saedl among the peanut varieties showed comparatively effective antioxidant activities.