Peanut is a leguminous crop with an indeterminate growth habit that will continuously flower during the entire reproductive development stage. Flowering redundancy adversely affects the yield and quality of peanut. In this study, eight flowering and five yield-related traits were collected and comprehensively evaluated from a diverse germplasm panel consisting of 232 peanut accessions, aiming to provide a theoretical basis for improving the flowering habit and yield for future peanut breeding efforts. As a result, large phenotypic diversity was observed in 13 traits. Most of the traits suggested high heritability, except high effective flowering duration (HEFD), days to 100% flower cessation (DTC100), and yield per plant (YPP). Days to 90% flower cessation (DTC90), days to DTC100, flowering duration (FD), and low effective flowering duration (LEFD) showed significant negative correlations with 100-seed weight, 100-pod weight, YPP, average weight per pod, and shelling percentage. Principal component analysis (PCA) suggested that flowering redundancy traits as well as yield-related traits contributed more to the first three PCs when compared to other traits. This study addresses the lack of peanut flowering phenotypic and genetic diversity and lays the foundation for in-depth research on redundancy-related genes in peanut flowering.