This study was carried out to determine the proximate composition, amino acids and fatty acids contents and changes of physicochemical characteristics of each oil extracted from Spanish and Virginia type peanuts grown in Korea roasted at 110, 120, 130 and 14$0^{circ}C$ for 2 minutes. 1. The moisture contents of raw Spanish and Virginia type peanuts were 6.5~6.8% respectively. The crude ash and reduced sugar contents of raw Spanish and Virginia type peanuts were 2.3% and 16.5% and the crude protein content was 27.0% in Spanish type peanuts and was aproximately 1% higher than in Virginia type peanut. The protein content was 25.7%~26.7% in Virginia type peanut roasted at 110, 120, 130 and 14$0^{circ}C$. The crude fat content of Virginia type peanut was 46.0% which was aproximately 1% higher than that of Spanish type. But four kinds of oils content were 51.3%~51.8% in Spanish type peanut roasted at 110, 120, 130 and 14$0^{circ}C$, which was about 2% higher than those of Virginia type. 2. Amino acids existed in peanut were glutamie acid, arginine, aspartic acid, leucine, glycine, phenylalanine, proline-lysine, tyrosine, valine and isoleucine, etc mainly. But methionine and threonine contents were very low. The content of glutamic acid was the highest in 71.6-81.7mg among amino acids. Glutamic acid content of Virginia type peanut was about 12% higher than that of Spanish type peanut. Total amino acid content was 441.8mg/g in Virginia type peanut and that was 16% higher than that of Spanish type peanut. The lysine content of Spanish and Virginia type peanuts roasted at 14$0^{circ}C$ were 24% and 13%, these were lower than those of peanuts roasted at 11$0^{circ}C$. 3. Main fatty acids of raw Spanish and Virginia type peanut oils were oleic(40.99-46.58%), linoleic(33.21-38.82%) and palmitic acid(9.72-11.58). Linoleic acid content of raw Virginia type peanuts was 5.6% higher than that of raw Spanish type peanut. And the oleic acid content of Spanish and Virginia type peanuts roasted at 11$0^{circ}C$, 12$0^{circ}C$, 13$0^{circ}C$ and 14$0^{circ}C$ was 50-53% and 41-43% respectively. Linoleic acid content of Spanish and Virginia type peanuts roasted at same temperatures as the former was about 28-31% and 37-38% respectively. That linoleic acid content of roasted peanuts was lower than that of raw peanuts. Linoleic acid content of raw and roasted Virginia type peanut, were higher than that of Spanish type peanuts. 4. Acid value and peroxide value of oils extracted from roasted Spanish and Virginia type peanuts were much higher than those of oils extracted from raw peanuts. The maximum AVs of oils extracted from Spanish and Virginia type roasted peanuts were samples roasted at 12$0^{circ}C$and those AVs were 0.50 and 0.63 respectively. And the maximum POVs of oils extracted from Spanish and Virginia type roasted peanuts were samples roasted at 12$0^{circ}C$ also and those POVs were 26.8 and 32.8 meq/kg. oil respectively. Acid value and peroxide value of oils extracted from roasted peanuts were increased with increasing the roasting temperatures from 11$0^{circ}C$ to 12$0^{circ}C$, then decreased, while TBA values were increased continuously with increasing the roasting temperatures.