Abstract: Taking the Arachis hypogaea cv. ‘Qinghua 7’ as test material, a field experiment was conducted to study the effects of different cultivation modes on the leaf photosynthetic characteristics and yield of summer-sowing peanut after wheat harvest. As compared with conventional cultivation mode, high-yield protective cultivation mode promoted the leaf growth, significantly improved the leaf area index (LAI), and maintained a longer time of high LAI and chlorophyll content. Meanwhile, the net photosynthetic rate, stomatal conductance, and transpiration rate of functional leaves under highyield protective cultivation mode were higher while the intercellular CO₂ concentration was lower, which induced the photosynthetic efficiency of functional leaves being significantly improved. Therefore, under high-yield protective cultivation mode, the yield per peanut plant was higher, the pod yield increased significantly, and the economic coefficient improved obviously. Both film mulching and straw returning could also improve the leaf photosynthesis of summer-sowing peanut, and increase the peanut yield. It was suggested that high-yield protective cultivation mode could effectively alleviate the adverse factors of summer-sowing peanut, such as the short growth period and lower productivity per plant, being a practical high-yield cultivation mode of summer-sowing peanut.