Accurate identification of promising parents is crucial for groundnut (Arachis hypogaea L.) cultivar development. Six cultivars, namely, ICGS 44, Ginar 1, ALR 2, JL 24, GG 2 and CO 2 were intermated in all possible combinations in a full diallel mating design. The 30 reciprocal F, hybrids and six parents were utilized for the study. Five traits, namely, number of mature pods, kernel weight, pod yield, shelling outturn and oil content were recorded for the estimation of general combining ability (gea) and specific combining ability (sea) effects. The greater SCA variance than GCA variance for the number of mature pods, pod yield, shelling outturn and oil content, whereas, the reverse is true for kernel weight. The crosses ALR 2 x JL. 24 and ICGS 44 x JL 24 had greater sea effects for pod yield. Hence the gene action. involved in this cross may be of additive x additive type. These two crosses could be used for further selection to obtain high yielding progenies. Seven of the fifteen crosses had significant reciprocal effect for the traits, pod yield and oil content. Hence, the influence of maternal effect on the economic traits is evident in the present material.