Abstract: The peanut easily got oil pull-up and mildewed. It was important to analyze the changes of amino acids and fatty acids of peanuts which was a reflection of peanut qualities. The changes of amino acids and fatty acids of peanuts were compared by HPLC and GC-MS,which were stored at three different conditions:low temperature and normal humidity refrigeration,at room temperature and low humidity and ambient temperature and humidity. The discriminatory analysis of peanut samples were made by electronic nose and infrared spectroscopy. The amount of amino acids declined from 233.42 mg/g to 215.41 mg/g in cryogenic storage,compared with the amino acids of peanuts stored in the normal conditions which decreased to 197.85 mg/g.The change of fatty acids was the most obvious in the content of oleic acid and linoleic acid. The ratio raised from 0.94 to 0.96 in cryogenic storage,while the ratio of peanuts reached 1.54 when stored in the normal conditions. The characteristic peaks of protein and fatty acids in the infrared spectra at 1653 cm^-1and1744 cm^-1 were decreased,especially in the normal conditions. Cold storage was the best storage conditions of peanuts.