Twenty five groundnut genotypes were collected from National Oilseed Research Program (NORP), Nawalpur, Sarlahi along with local checks (B -4, Jyoti and Jayanti) were used to study their genetic variability, heritability and genetic advance of pod yield and yield component traits. The study helps to expand the options of variety for various traits as per farmers need. Highly significant variations were observed for all the characters in all the genotypes used in the experiment. Higher phenotypic coefficients of variations were observed for days to 75% flowering, days to maturity, plant height, pods plant-1, seeds pod -1, 100 seed weight, pod length, pod width, seed length, seed width, shelling % and SMK %. The character 100 seed weight showed high heritability with high genetic advance and high genetic advance in percentage of mean. Considerable high heritability, low genetic advance and genetic advances in percentage of mean were found for Days to maturity. The study revealed that short duration genotypes ICGV 91104 and genotype ICGV 00440 for duration are better for breeding material from yield point of view