Abstract: The effects of natural compound antioxidants on the improvement of the oxidative stability and flavor of peanut oil was studied. The results showed that the peroxide value increased from 1.38 meq/kg at 0 day to 1.65 meq/kg at 24 day and the acid value increased slightly from 0.93 mgKOH/g at 0 day to 1.03 mgKOH/g at 24 day in the oil sample with 0.07% powdery rosemary extract+0.07% oily rosemary extract+0.01% V_C. Moreover,the increase of p-anisidine value and thiobarbituric acid reactive substances was relatively low compared to the control(p<0.05). The results determined that this group of antioxidants had the better antioxidant effect. The results of the flavor showed that the natural compound antioxidants did not alter the composition of the major substances in the flavor compounds,while they can partially increase or decrease the content of certain flavor substances. The peanut oil with the addition of the group of optimum antioxidant exhibited the flavor of natural extracts,which was related to the content of tpyridine compounds and furan compounds.