A newly cultivated sandy soil was supplemented with composted (rice straw, maize stalks, water hyacinth) or farmyard manure (FYM) in the presence and absence of multi-biofertilizers to evaluate its effect on growth, yield and yield components of peanut plants grown in pot experiment. Counts of phosphate dissolving bacteria, Azospirillum spp. and Pseudomonas spp. were always higher in the rhizosphere of plants growing in soil treated with various composted plant residues in the presence and absence of biofertilizers as compared to FYM or chemical fertilizer application. The amendment of soil with composted rice straw recorded higher counts of tested microorganisms in peanut rhizosphere as compared to composted water hyacinth or maize stalks under biofertilizers application. The dry weight of different peanut organs and the fresh weight of nodules were increased as a result of organic wastes fertilization alone or in combined with biofertilizers as compared to chemical fertilizer treatment. Significant differences in peanut yield of pods and seeds were obtained between composted rice straw or water hyacinth along with biofertilizers and NPK treatment (control). Generally, the addition of biofertilizers with different organic wastes led to improve the quantity and quality yield of peanut plants as compared to various organic wastes alone or chemical fertilizer application. Concentration of P, Zn, Mn, Fe and Cu in peanut seeds exhibited marked increases over chemical fertilization as a result of biofertlization under different organic wastes application. Peanut seeds contained the greatest percentage of protein and oil when plants were fertilized with composted water hyacinth or rice straw in the presence of biofertilizers.