A new peanut variety ‘K-Ol’(Arachis hypogaea ssp. fastigiata L.) was developed at the Department of Southern Area Crop Science, National Institute of Crop Science (NICS) in Milyang 2013. This was developed from a cross between ‘Baekseon’ with Shinpung type and ‘F435-5’ with high oleic acid. ‘K-Ol’ is the first high oleate variety in Korean and has short stem and Shinpung plant type. It has 10 branches per plant and its length of main stem was 43 cm. Each pod has two grains with brown testa and short ellipse-shaped kernel. Its yield components showed 46 pods per plant, 74 g of 100-seed-weight and 76% of pod shelling ratio in the regional yield trials (RYT). Seed contains 26.0% protein and 50.7% crude oil with a typical fatty acid composition of 82.9% oleate and 2.7% linoleate. This variety showed more resistant to late leaf spot, web blotch, stem rot and lodging, compared to reference variety ‘Daekwang’. In the regional yield trials for 2 years ‘K-Ol’ showed 4.34 MT/ha for grain yield by 99% of production level of reference variety.