This study aimed to improve the shelf life and quality of peanut butter by addressing challenges like rancidity and oil separation. Essential oils (EOs) from anise, cinnamon, and clove buds were tested as natural antioxidants and antimicrobials, alongside beeswax to prevent oil separation. The primary bioactive compounds in these EOs were identified as trans-anethole (anise), cinnamaldehyde (cinnamon), and eugenol (clove). Clove EO (CLEO) demonstrated the highest antioxidant activity, scavenging 95.78% of DPPH radicals, outperforming cinnamon EO (CNEO; 83.05%) and anise EO (ANEO; 64.18%). Antimicrobial efficacy, measured by inhibition zones, increased with EO concentration, with cinnamon showing the broadest inhibition. Beeswax in the control sample (T1) effectively prevented 99.83% of oil separation, yielded the lowest calorie content (591.02 kcal), and had the lowest ether extract (45.6%). Water activity was also lower in T1 (0.46) compared to stabilizer-free T2 (0.58), indicating better microbial stability. During six-month storage, T7 (0.1% CLEO) and T9 (CLEO + ANEO) maintained superior quality, with peroxide values below 10 meq/kg, outperforming other samples. CLEO and ANEO+CNEO blends minimized free fatty acid increases and showed no detectable microbial counts. Texture analysis favored T1 over commercial samples, but sensory panels preferred T5 (0.3% ANEO) for its sweetness, attributed to anethole. Post-storage, T5, T7, and T9 were top-rated, though preferences varied over time. T8 and T9 maintained consistent acceptability, while T2 (no stabilizer) scored lowest due to rancidity and stickiness. The study highlights beeswax as    a critical stabilizer and clove and cinnamon EOs as potent natural preservatives. Blending EOs synergistically improved oxidative and microbial stability, offering a viable strategy   to enhance peanut butter's shelf life while meeting consumer preferences for natural ingredients.