The work aims to screen natural antioxidants suitable for peanut butter antioxidant applications to inhibit peanut butter oil oxidation. Taking peanut butter without antioxidant as control, peanut butter with chemical synthesis antioxidant TBHQ and isoascorbic acid as reference, natural antioxidants rosemary extract, vitamin E, tea polyphenols, phytic acid, beta carotene, vitamin C were added into peanut butter respectively. The acid value and peroxide value of peanut butter were determined regularly to determine the antioxidant effects of different antioxidants. The results showed that different natural antioxidants have obvious differences in the antioxidant effect of peanut butter. Rosemary extract and tea polyphenols showed good antioxidant effect in peanut butter, and the antioxidant effect of rosemary extract was better than that of tea polyphenols. Vitamin C, Vitamin E, beta carotene and phytic acid promoted the oxidation of peanut butter. After 150 days of storage, the acid value of peanut butter with rosemary extract, tea polyphenols, isoascorbic acid and TBHQ antioxidants was 66.62%, 46.14%, 65.45% and 83.77% lower than that of the control group, and the peroxide value was 56.73%, 24.28%, 38.32% and 94.06% lower than that of the control group. Rosemary extract was comparable to isoascorbic acid in reducing acid value, superior to isoascorbic acid in reducing peroxide value, and slightly inferior to TBHQ in overall antioxidant effect. When the amount (mass fraction) of natural antioxidants was 0.03%, rosemary extract and tea polyphenols had better antioxidant effect on peanut butter than other natural antioxidants, which could be used in the antioxidant field of peanut butter.