Drought stress is an important factor limiting the yield potential of peanut. In order to determine the effect of different irrigation scenarios on peanut production, field experiments were conducted in 2011 and 2012 growing seasons using factorial design with three replicates. On the other hand, the crop simulation models can be useful to predict crop yields and to investigate the impact of drought stress on plant growth and development. In this study, the Cropping System Model-Crop Growth (CSM-CROPGRO)-Peanut model was employed for the simulation of seed yield, pod yield, biomass, soil water balance components and water productivity for peanut in Astaneh-Ashrafiyeh, Iran. Results showed that the model was able to reasonably simulate seed yield, pod yield and final biomass for different irrigation scenarios (RMSEn < 20%, R 2 > 0.8 and d > 0.8). According to the results, irrigation depth and interval were important factors affecting yield and biomass. In general, model error increased as the amount of water applied decreased. The least amount of water applied (40 mm) resulted in yield reductions by 76%, 70% and 67% of the greatest amount of water applied (480 mm) for seed yield, pod yield and final biomass, respectively. For each irrigation interval, larger irrigation depth led to lower water productivity (WP) of irrigation (WP I ), but higher WP based on evapotranspiration (WP ET ) and transpiration (WP T ).The average amounts of WP I , WP ET , WP T based on seed yield were 1.2, 0.63 and 1.01 kg m −3 , respectively.