A new peanut variety ‘Ilpyeong’ (Arachis hypogaea ssp. hypogaea L.) was developed at the Department of FunctionalCrop, NICS, in Milyang in 2009. This cultivar was developed from a cross between the high-yielding cultivar ‘Palkwang’, andthe high quality cultivar ‘Yudelaka’. ‘Ilpyeong’ which is Virginia plant type has 20 branch numbers per plant with longellipse-shaped large kernel. Each pod has two grains with brown testa and 100 seed weight was 85 g in the regional yield trials(RYT). Seed quality showed 49.5% of crude oil and 27.6% of protein content. This variety also showed more resistance to lateleaf spot and web blotch compared with check one. Especially it has resistance to lodging until harvesting owing to short stemand erect plant type. In the regional yield trials ‘Ilpyeong’ was outyielded than the check variety by 8% with 4.47 MT/ha for grain.