The purpose of this study was to investigate and compare the protein properties of different defatted peanut cultivars. Protein extraction yields were 40.67% for K-Ol, 42.43% for Sewon, 45.07% for Hae-Ol, 45.03% for SDB, and 46.33% for Sinpalkwang. The in vitro digestibility of Sewon was highest at 98.25%. Hae-Ol had the lowest α-helix content but the highest β-sheet (30.56%) and random coil (41.68%) contents. Protein molecular weight patterns of defatted peanut cultivars obtained by SDS-PAGE showed Hae-Ol and Sewon differed from other cultivars in the ranges 50 to 75, 25 to 37, and 20 to 25 kDa. The glutamic acid content of Hae-Ol was highest at 184.94 mg/g. Furthermore, amino acid contents, such as aspartic acid and leucine, were higher for Hae-Ol than the other cultivars. The study shows Hae-Ol cultivars have considerable potential as raw materials for the protein product industry.