A two-year study was carried out at Ismailia Agricultural Research Station, Egypt during 2016 and 2017 summer seasons to evaluate competitive effects of intercropping sunflower and peanut under different drip irrigation water amounts and K fertilizer rates for increasing farmer profitability. Three irrigation amounts (70%, 100% and 120% ETo), three K fertilizer levels (57, 86 and 114 K 2 O kg/ha) and four intercropping patterns of sunflower and peanut (different spatial arrangements) were implemented. The experimental design was strip split plot with three replications. The results showed that there were no significant differences between 100% and 120% ETo on most of yield traits of the intercrops. The highest K fertilizer level had the highest values of most yield traits of the intercrops. The highest values of peanut and sunflower traits were obtained from intercropping sunflower with peanut, where peanut seeds were sown on both sides of all the raised beds, sunflower seeds were sown on one row above the raised beds and the following bed was left without intercropping (P1). Thus, to attain the highest yield of intercrops and water equivalent ratio (WER), the lowest competitive pressure and the highest farmer profitability, 120% ETo, 114 K 2 O kg/ha and P1 intercropping pattern should be implemented. This research found that the result of competitiveness was consistent with the result of profitability.