In order to determine the suitable dosage of slow-release fertilizer for wheat stubble peanut, five treatments, CK, CF, SRF, SRF0.9 and SRF0.8 were used to study the effects of different dosages of slow-release fertilizer on the growth and nutrient utilization of wheat stubble peanut. The results showed that SRF could significantly increase NR activity, root activity, fruit number per plant, 100-fruit weight, 100-kernel weight and kernel yield of wheat-stubble peanut in the middle and late stages, and significantly increase pod and kernel yield compared with CF. The growth index and yield performance of slow-release weight loss 10%（SRF0.9） were higher than those of common chemical fertilizer（CF）, but the difference was not significant. Slow-release weight loss of 20%（SRF0.8）,physiological growth indicators and yield were lower than those of CF treated with conventional fertilizer, but the difference was not significant. Slow-release fertilizer can significantly improve the utilization rate of nitrogen, phosphorus and potassium in the current season, partial productivity of nitrogen fertilizer and agronomic efficiency of nitrogen fertilizer. In order to obtain high yield, SRF can be selected as the priority fertilizer, while SRF0.9 can be selected as the priority fertilizer for weight loss and efficiency improvement.