Background: Diabetic peripheral neuropathy (DPN) is a critical clinical disease with high disability and mortality rates. Early identification and treatment of DPN is critical. Our aim was to train and externally validate a prediction nomogram for early prediction of DPN. Methods: 3012 patients with T2DM were retrospectively studied. These patients were hospitalized between 1 January 2017 and 31 December 2020 in the First Affiliated Hospital of Xinjiang Medical University in Xinjiang, China. A total of 901 patients with T2DM from the Suzhou BenQ Hospital in Jiangsu, China who were hospitalized between 1 January 2019 and 31 December 2020 were considered for external validation. The least absolute shrinkage and selection operator (LASSO) and multivariate logistic regression were performed to identify independent predictors and establish a nomogram to predict the occurrence of DPN. The performance of the nomogram was evaluated using a receiver operating characteristic curve (ROC), a calibration curve, and a decision curve analysis (DCA). Findings: Age, 25-hydroxyvitamin D3 [25(OH)D3], Duration of T2DM, high-density lipoprotein (HDL), hemoglobin A1c (HbA1c), and fasting blood glucose (FBG) were used to establish a nomogram model for predicting the risk of DPN. In the training and validation cohorts, the areas under the curve of the nomogram constructed from the above six factors were 0.8256 (95% CI: 0.8104–0.8408) and 0.8608 (95% CI: 0.8376–0.8840), respectively. The nomogram demonstrated excellent performance in the calibration curve and DCA. Interpretation: This study has developed and externally validated a nomogram model which exhibits good predictive ability in assessing DPN risk among the type 2 diabetes population. It provided clinicians with an accurate and effective tool for the early prediction and timely management of DPN.