TWO FIELD experiments were conducted at the experimental and research station at Ismailia of the Agriculture Research Center (ARC) Egypt, during 2013 and 2014 summer seasons in sandy soil; to determine the effect of intercropping maize with peanut under maize treatments; harvesting maize for fodder, maize for grains with defoliation at 85 days from sowing maize or without defoliation and plant densities: 2, 3 and 4 plants/hill at distance of 70 cm apart on each of productivity, land equivalent ratio (LER), net return and monetary advantage index (MAI). A split plots design with three replications was used. The main plots were assigned to three maize treatments and maize plant densities were distributed in sub plots. Sprinkler irrigation system was used, ground nut was sowing on both sides of beds 120 cm but corn was growing in the middle. Maize variety SC168 and groundnut C.V. Giza.6 were sown inboth seasons. The results showed that harvested maize plants for fodder produced the highest increment in pod yield/ha by (54.59 and 27.80%), during the first and second seasons, respectively, as compared with intercropped groundnut plants with harvested maize for grains without defoliation. Sowing maize by low plant density (24000 plants/ha) resulted in higher values of pod yield/ha (2.147 and 2.077 ton) during the first and second seasons, respectively. Groundnut plants which grown with harvested maize for fodder and low densities of adjacent two maize plants/hill (24000 plants/ha) recorded the highest values of pod yield/ha (2.482 and 2.304 ton) in both seasons. The relationship between maize plant densities and pod yield of ground nut was negative and followed the linear equation. Linear regression equation for maize plant densities suggested that increase in one unit (12000 plants) of maize plant densities lead to decreased pod yield/ha by 0.410 and 0.368 ton/ha during the first and second seasons, respectively. Maximum values of green fodder (17.46 and 17.93 ton) were obtained with 100% maize (48000 plants/ha), while, the minimum values (13.33 and 16.11 ton) were obtained in 50% maize density (24000 plants/ha) in first and second seasons, respectively. Maize harvested for grains without defoliation produced the highest grain yield/plant (154.2 and 162.6 g) and grain yield/ha (3.667 and 4.080 ton) during the first and second seasons, respectively. Maximum values of maize traits were obtained with intercropped 50% maize (24000 plants/ha).Grain yield/ha (4.46 and 4.78 ton) reached maximum values at full stand and harvested maize plants for grains without defoliation during both seasons. Maximum LER (1.64 and 1.69) were obtained when the maize harvested for fodder and peanut plants were grown under low density (24000 plants/ha) during the two seasons, respectively. Maximum net return/ha (1696.2 and 836.9 US$) were recorded when the maize harvested for grains with defoliation and peanut plants were grown under 50% of full stand of maize plants (24000 plants/ha). The highest MAI value (+830.5 and +889.3) was observed when the harvested maize plants for fodder and peanut plants were grown under 50% of full stand of maize plants (24000 plants/ha).