The leguminous crop Arachis hypogaea L. (peanut) is originally from South America and then was disseminated to tropical and subtropical regions. The dissemination of the crop resulted in peanut plants establishing a symbiotic nitrogen-fixing relationship with a wide diversity of indigenous soil bacteria. We present in this review, advances on the molecular basis for the crack-entry infection process involved in the peanut-rhizobia interaction, the diversity of rhizobial and fungal antagonistic bacteria associated with peanut plants, the effect of abiotic and biotic stresses on this interaction and the response of peanut to inoculation.