The objective of the present study was to evaluate the phytochemical constitution and antioxidant acti vity of ethanolic extract of Runner and Spanish variety gro undnuts in three different forms such as Raw (dry), Boiled and Roasted. Qualitative analysis of phytochemical cons tituents namely tannins, phlobatannins, saponins, f lavonoids, quinones , coumerin, terpenoids and cardiac glycosides were pe rformed by standard protocols. The antioxidant activity was analyzed by DPPH and ABTS radical scav enging assays. The phytochemical screening showed t he presence of tannins, phlobatannins, saponins, flavo noids, quinones, terpenoids and cardiac glycosides in both the Runner and Spanish variety groundnuts. The numerous bioactive components in peanut contribute to their antioxidant capacity. The antioxidant level of roas ted were found to be higher than boiled and raw in both Spanish and runner variety in DPPH and ABTS, Whereas the le vel of antioxidant of boiled were found to be highe r than raw in DPPH assay ,but the level of boiled groundnuts were found to be lower than raw in ABTS assay.