Seed mass, oil and protein contents are important quality traits in peanut (Arachis hypogaea L.). Sixty-four genotypes were grown for four seasons to study genetic variation and character association between these three traits. Graded seed samples of 33 genotypes were further studied for possible variation within genotype among grades for oil and protein contents. No significant association of seed mass with percent oil or protein contents was observed among the 64 genotypes. However, oil and protein contents were significantly negatively associated. Oil content variation within a genotype showed a significant linear increase as the seed mass increased in the graded samples, but no such relationship was observed with protein content. Genotypes with desirable traits for confectionery and/or oil types were identified and may be used for germplasm enhancement.