In order to investigate the effect of iron (Fe) and sulphur (S) application on the yield and yield components of peanut (cv. NC2 ), an experiment was conducted in factorial based on randomized complete blocks design with two factors and three replications at Kiashahr, Guilan province during 2008. Factors were included three levels of Fe (consisting of 2, 3 and 4×1000 as Fe chelate source) and three levels of S (consisting of 30, 60 and 90 kg/ha as gypsum source). One treatment without Fe and S application in each block considered as control. Results showed that application of both Fe and S had a significant effect on grain yield, pod yield, grain to pod percentage, 100 grain weight and matured pod number. According to the results the highest grain yield was belonged to 3 and 4×1000 Fe treatments (11% more than control), and 60 and 90 kg/ha of gypsum (12% more than control). There was a significant difference between S and Fe treatments in terms of seed oil and protein, in which the 90 kg/ha of gypsum showed the highest oil percentage (52.5%). Also the highest protein percentage was related to 3 and 4×1000 Fe treatments. In conclusion it seems that using both S and Fe fertilizer in peanuts grown under similar conditions has a useful result.