Eighty random samples of corn and peanut that were purchased from different regions in Damietta Governorate (July 2010 to July 2011) were analyzed for aflatoxin (AFs) by HPLC and screened for the presence of fungi. Total count of fungi in corn ranged from 24 to 62 colony/g, the corn samples were found to be contaminated with six species of fungi belong to four genera; Aspergillus, Penicillium, Fusarium  and Alternaria.  The Aspergillus group was the most prevalent fungi in all examined samples, within these species, A. niger, A. flavus, A. fumigatus, A. ochraceus and A. terreus, in addition to Fusarium equiseti species. On the other hand, peanut samples were contaminated with eleven  species belong to five genera, A. flavus, A. parasiticus, A. fumigatus, A. niger, A. ochraceus, A. terreus, Penicillium chrysogenum, Penicillium nigricans, Alternaria alternate , Mucor sp., and Chaetomium sp. The total fungal count ranged from 48 to 73 colony/g peanut sample.  AFs were detected in corn and peanut and its total concentrations ranged from 2.030 to 6.003±1.6 µg/kg and 4.23 to 5.69 µg/kg, respectively. This study concluded that the AFs level in the corn and peanut in the collected samples were below permissible levels.