Objective: This study aimed to develop a kind of fermented hypoallergenic peanut milk with lactic acid bacteria. Methods: The crude protein content and Ara h 1 concentration in different peanut varieties were determined by the kit, and the peanut varieties with the lowest Ara h 1 content were selected to make fermented milk. Response surface method was used to optimize the preparation process of fermented peanut milk with the maximum reduction of sensitizing protein Ara h 1 content with different inoculation amount, inoculation species, fermentation time and sugar addition amount as factors. The compound fermented peanut milk with probiotics was prepared, and the taste, histological state and flavor of the product were evaluated. Results: When inoculated with 4% bacteria, inoculated with Streptococcus thermophilus and Lactobacillus bulgaricus, fermented for 4 h, and added with 6% sugar, the main allergen Ara h 1 in fermented peanut milk was reduced by 70% to 48 μg/g, and the average score of sensory evaluation was 80 points. Conclusion: Through process optimization, a compound probiotic fermented peanut product with low content of sensitizing protein Ara h 1, good curd effect and pleasant taste was obtained.