Hot methanol extracts of Spanish peanuts were found to possess antioxidant activity. Thin layer (TLC) and paper chromatography of the methanolic peanut extracts yielded 6 fluorescent bands of which one exhibited potent antioxidant activity. Further separation by TLC showed this band to be a complex mixture of 3 components that were tested for antioxidant activity. One component demonstrated all of the antioxidant activity associated with the parent band. Analysis of this antioxidant by paper chromatography and TLC, chromatographic spray reagents and spectral analysis demonstrated that the compound was dihydroquercetin.