Abstract: Background and Objective: Peanut is one of the most important crops all over the world. Global annual production of peeled peanuts reached 44 million t in 2016 and China produces 38% of total production. Peanut attacked by many of fungi which causes lot of quality or quantity losses The present investigation concerned with study of peanut seed-borne fungi and their extracellular enzyme activities under Egyptian condition. Materials and Methods: Commercial seed samples were collected from different four governorates with different conditions such as; Beheira, Ismailia, Giza and Sohag. All samples were subjected to seed healthy test using blotter method. Therefore, the most frequent fungi subjected to study their extra cellular enzyme activity. Results: Seventeen species of fungi belonging to 14 genera were isolated. Six fungi were recorded in all locations such as; Aspergillus flavus, Fusarium moniliforme, Fusarium oxysporum, Penicillium sp., Rhizoctonia solani and Aspergillus niger. The best activity for most enzymes was at 30°C. Conclusion: Tested fungi were varied in their enzyme activities between three evaluated enzymes such as; amylase, cellulase and lipase. Aspergillus flavus showed a remarkable activity of amylase and lipase while Rhizoctonia solani distinctive in cellulase.