The high yield trait and physiological characteristics of Fuhua series peanut varieties were studied in this experiment. The results showed that the candidate cultivars had many good characteristics for high yield, such as many branches, good podding habit, high shelling percentage and high productivity per plant. They also have good physiological characteristics, such as more and rapid dry matter accumulation, high leaf area index and high net photosynthetic rate, high chlorophyll content. In peanut breeding, more branchs, more pods, plump pods and higher shelling percentage should be regarded as important reference indexes for high yield of single plant selection.