A new peanut(Arachis hypogaea ssp. fastigiata L.) variety “Hwaseon(Milyang50)” with the high yield potential was developed at the Department of Functional Crop, NICS, in Milyang in 2013. This was developed from the crossing line between cultivar “Iksan 31” with large grain and high quality and “SP9614” with short stem. “Hwaseon” which is Shinpung plant type has 41cm of main stem length and 10 branch number per plant. Each pod has two grains with long ellipse shape of brown testa and yield components is composed of 45 mature pods of per plant, 84g of 100-seed weight, 79% of pod shelling ratio in the regional yield trials(RYT). Seed quality showed 47.3% of crude oil and 27.6% of protein content. This variety also showed more resistant to early leaf spot, and stem rot, compared with check variety “Daekwang”. In the regional yield trials “Hwaseon” outyielded check variety by 12% with 4.78 MT/ha for kernel.