The present study was conducted to evaluate the quality and storage stability of beef patties containing different levels of peanut skin (PS) during cold storage. The PS showed a high phenolic content and antioxidant capacity. The addition of PS enhanced the water holding capacity of patties while negatively affected the protein content, hardness, and chewiness. The treatment of PS decreased appearance, juiciness, and overall acceptability scores, but overall acceptability scores of beef patties containing up to 4.5% PS were similar to the negative control without PS. The incorporation of PS to beef patties at high levels (3.0, 4.5, and 6.0%) stabilized the pH, lipid oxidation, color differences, and microbial growth during the storage period. Thus, the inclusion of 4.5% PS could be recommended to prolong the shelf life of beef patties with minimal compositional and sensory changes.