Timber demand for crafts, furnitures and structures has been increased while the supply from natural and industrial forrest is getting more and more limited, thus, alternative materials may be needed for timber substitution. Peanut (Arachis Hypogea) shell as waste of agricultural product can be used as filler for polymer-based composite, but it has not extensively been studied. The objective of this work is to determine the effcet of the size and content of peanut shell particles on the Izod impact toughness of peanut shell/epoxy composite system. Fiber content of 0, 10, 20 and 40 vol%, as well as mess size between 11 and 16, and passing through mess 16 were used. The particel boards were produced using press-mould technique, while specimen preparation and testing were carried out according to the ASTM D5941 standard. Failure modes were evaluated by close observation on the photo macrographs of the samples. It was revealed that the smaller the particle size the higher the absorbing energy capacity (Ea) and impact toughness (IIt) of the samples. To the contrary, both Ea and IIt were found to increase with the increase of fiber content. For particel size of between mess 11 and 16 at 40 vol% fiber content, the Ea and IIt were found being 2.3 J and 0.043 J/mm2, respectively. For the same fiber content at particle size of passing through mess 16, those were found being 2,8 J and 0,050 J/mm2, respoectively. Most of the samples were exhibited single plane fractures.