Peanut varieties have their own distinct characteristics, which also affect the properties of the processed-products. Knowledge on these effects can assist peanut processors to select certain varieties for specific products. Therefore, the multivariate relationships between the quality traits of peanut kernels and their peanut butters were explored in this study. Peanut butters were manufactured from forty peanut varieties with detailed component analysis. The volatile compounds, colour, texture, rheology, and particle size distributions of peanut butters and their relationships with peanut varieties were comprehensively analysed. The results showed that peanut butters prepared from varieties with lower fat, higher protein, and higher sucrose contents have higher firmness, yield stress, and G ′ values. It was also suggested that amino acids likely play a major role in the formation of the distinct peanut butter aroma and colour. This research study provided a detailed analysis approach that can be used by processing enterprises to select the most suitable varieties to produce peanut butters that address different commercial needs.