Peanut oil is the oil from the seed (peanut) of the peanut plant (Arachis hypogaea). Peanut oil is used in cooking and is also used to make medicine.

Peanut oil is high in monounsaturated "good" fat and low in saturated "bad" fat. This is believed to help prevent heart disease and lower cholesterol. Peanut oil might help to reduce fatty build up in blood vessels.

People use peanut oil for high levels of cholesterol or other fats in the blood, heart disease, joint pain, dry skin, and many other conditions, but there is no good scientific evidence to support these uses.

Peanut is considered a major food allergen in the US. Peanut contents, including peanut oil, must be labeled on packaged food and supplement products.