four varieties of ground nut (Arechis hypogea) were collected from different areas of Pakistan (Tillagang, Gujar khan, Hanoi and Pipplan) from Punjab province. The oils were extracted for the evaluation of lipid. Physico-chemical values of oils were determined like refractive index, peroxide value, unsaponifiable matter, acid value, iodine value, free fatty acid and ester value. The lipid profile as indicated by GLC showed that Palmitic acid ranged from 8.2-8.8%, proportions of oleic acid and linoleic acid varied from 57.8-59.87% and 22.5-24.1% respectively. Gujar khan variety of peanut has higher % age of oil (56.79). The higher yield of oil in this variety is not at the cost of any nutritional quality of peanut oil.