In the samples of two different peanuts and peanut butters which were obtained from different locations of the same region, moisture, protein, oil, cellulose, ash and energy have been determined. Furthermore, the weight of 1000 seeds peanuts and their sizes have been measured. In the samples, Na, K, Ca, P, Fe, Zn, Cu, Mg, Mn, X, As, B, Cs,Cr, Li, Pb, Se and V amounts have been established by using Inductivelly Coupled Plasma-Atomic Emission Spectrophotometer (ICP-AES). In the kernels and peanut butter, acidity, iodine and peroxide value, relative density, refractive index, tocopherol, saponification number and unsaponifiable matter have been determined. In the seed and butter oils of COM and NC-7 cultivars, respectively; myristic, palmitic, palmitoleic, stearic, oleic, linoleic, linolenic, arachidic, gadoleic and behenic acids were identified mainly by gas chromatography. The major fatty acids of peanut seeds and butter of both cultivar were oleic, linoleic and palmitic acids. Both variety exhibited higher concentrations of oleic acid. Consequently, peanut seeds and butters of COM and NC-7 were found rich in oil, protein, oleic and linoleic acids and mineral compositions. Increasing of high oleic / linoleic ratio and tocopherol contents are very important due to stability of oil. Also, the peanut butter are nutritionally equivalent to peanut kernel.