Peanut prptein isolate was tested for the purpose of finding out the effect of pH, Sodium Chloride concentration and heat treatment on the solubility, surface hydrophobicity, foam expansion and foam stability. The solubility of peanut protein isolate was affected by pH and showed the lowest value at pH 4.5. When the peanut protein isolate was heated, the solubility decreased at pH 3 and pH 7 but at pH 9 solubility increased. At all pH range, solubility decreased as NaCl was added. The surface hydrophobicity of peanut protein isolate showed the highest value at pH 1.5. Generally, at acidic pH range the surface hydrophobicity was high, but at alkaline region, the surface hydrophobicity increased as the temperature increased. And when NaCl was added, the surface hydrophobicity was also increased. Foam expansion of peanut protein isolate was no significant difference among the values about pH. When the peanut protein was heated and NaCl was added, foam expansion was increased at pH 7. Foam stability was significantly low at pH 4.5 and foam stability was increased at acidic pH region below pH 4.5. At pH 7 and pH 9, heat treatment above $60^{circ}C$ increased foam stability. When NaCl was added, foam stability was significantly increased at pH 3 and pH 7.