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Peanut , or Groundnut ( Arachis hypogaea ), is a species in the legume or "bean" family (Fabaceae). The peanut was probably first domesticated and cultivated in the valleys of Paraguay. [ 1 ] It is an annual herbaceous plant growing 30 to 50 cm (1.0 to 1.6 ft) tall. The leaves are opposite, pinnate with four leaflets (two opposite pairs; no terminal leaflet); each leaflet is 1 to 7 cm (? to 2¾ in) long and 1 to 3 cm (? to 1 inch) across.