Comparative analysis as well as the elemental composition were carried out on oil samples obtained from three groundnut species namely; Earthnut, pygmy and pignut. .The extraction process was carriedout using soxhlet apparatus with hexane as the extraction solvent. The physicochemical characterization was carried out using standard methods in terms of Iodine value (IV), Free Fatty Acids (FFA), Saponification value and Acid Value (AV).The selected element of Na, Mg. Zn. Fe. Ca. K and p were determined by the use of atomic absorption spectrophotometer model buck VGP connected to a computer. The phosphorus content was determined using the calorimetric method. Proximate Analysis was also carriedout on the three species of ground. From the results of the analysis, Earthnut has 43.7% oil, Pygmy 45.8% and pignut 45.8%.The result of the physicochemical characterization of the oil sample showed that for earthnut the values of 43.72±0.21 IV.