Peanut (Arachis hypogaea L.) is an important source of edible vegetable oils and plant proteins globally. However, the complex mechanisms regulating the oil and protein contents of peanut seeds remain unclear. Here, comparative broad-target metabolomics and quantitative lipidomics, together with transcriptome analysis, of peanut seeds at four developmental stages from the high-oil content variety "YH15" and high-protein content variety "KB008" were performed to search for oil and protein content control genes. A total of 984 differential metabolites, including 128 amino acids and derivatives and 310 differentially accumulated lipids, were identified between "YH15" and "KB008" in four seed developmental stages. The weighted gene coexpression network analysis and module−trait relationship analysis revealed that MEbrown, MEyellow, and MEturquoise modules were key contributors to the quality discrepancies observed between "YH15" and "KB008." Crucial genes potentially regulating the differences in oil and protein contents between "YH15" and "KB008" were identified within the aforementioned three modules, including genes involved in amino acid synthesis and degradation, nitrogen allocation, triglyceride synthesis and degradation, and fatty acid synthesis and degradation, as well as transcription factors. Overall, this study provides valuable insights into the molecular regulation of oil and protein contents in peanut seeds and may help cultivate specialized peanut varieties with enhanced nutritional and economic values.