Because of the shortage of oil and proteins in Egypt, peanut has attracted the interest as good source of oil for human as well as animal consumption. This study was carried out to evaluate the fatty acids and the chemical composition of three varieties of peanut as affected by storage time. The obtained results showed that fat content of the three seed varieties was increased with increasing storage time from 0 time to 9 months then a slight decrease was observed at 12 month stored time. Also, carbohydrates content was increased by increasing the storage time from 0 month to 12 months for all seed varieties. However, protein, Moisture, Ash and fiber percent were decreased with increasing the storage time from 0 month to 12 months. Result indicated that NC peanut variety seeds gave the highest value for fatty acids, physical and chemical composition than Gerogly peanut variety then Balady peanut variety. In conclusion, as decreasing the total saturated fatty acids from 0 to 12 months, the total of unsaturated fatty acids were increased for the three different peanut oils.