Abstract: In order to explore the issue of precise nitrogen fertilizer application for peanut in soils with extremely abundant phosphorus and potassium in Dayang Township, Hanjiang District, Fujian Province, a field experiment was conducted following the “2+X” experimental design specified in the Technical Specification for Soil Testing and Formulated Fertilization (Revised 2011). Five nitrogen application treatments were set up, including a nitrogen-free treatment (N0), 70% optimized nitrogen treatment (N1), optimized nitrogen treatment (N2), 130% optimized nitrogen treatment (N3), and 150% optimized nitrogen treatment (N4), to investigate the effects of nitrogen application rates on agronomic traits, yield, soil physicochemical properties, and nutrient uptake of peanut. The results showed that the 130% optimized nitrogen treatment (pure N 126 kg·hm⁻²) achieved the highest peanut yield of 4778.0 kg·hm⁻², which was a significant increase of 25.37% compared with the nitrogen-free treatment, bringing an additional economic benefit of 1320.27 CNY·hm⁻². Considering the comprehensive factors including yield, economic benefits and soil sustainability, under the conditions of yellow-based calcareous clay paddy soil in this region (with the available phosphorus of 784.7 mg·kg⁻¹ and available potassium of 350.0 mg·kg⁻¹), it was recommended that the pure nitrogen application rate of 126 kg·hm⁻² was determined as the optimal scheme for high peanut yield, which provided a scientific basis for the precise application of nitrogen fertilizer for peanut in the local area.