Abstract: Peanut protein as an important plant protein resource, is mainly composed of arachin and conarachin. Arachin is prone to deformation and aggregation in commercial production, so it often appears in the form of aggregates, showing poor solubility. Glycosylation is a green and effective chemical modification method to improve the functional characteristics of peanut protein based on Maillard reaction, which contains mild and no toxic/harmful substances. The traditional methods of glycosylation include dry-heat method and wet-heat method. In recent years, in order to improve traditional methods, physical and biological methods have been used to assist glycosylation reaction to obtain an ideal protein. The common glycosylated peanut protein is mostly used as biological film and is a good food packaging material. In this review, the mechanism and method of glycosylation reaction of peanut protein and its improvement on the functional properties of peanut protein are systematically introduced. The influence of glycosylation on allergic reaction and the application of glycosylated peanut protein are discussed and the future development is prospected.