With peanut shells as raw material of activated carbon adsorbent, the adsorption property of wastewater containing phenol was studied. The effection of the amount of adsorbent, adsorption time, temperature, pH and other factors on absorbing effect were investigatied. It also made the preliminary research on adsorption mode. The results determined in acidic or neutral condition are as follows: the amount of absorbent 0.8g, the adsorption time 1.5h, temperature 30°C, Under which, the optimum absorbing effect of peanut shells activated carbon (PSAC) on the 100mL concentration of 50mg/L of wastewater containing phenol is achieved. The maximum maximum phenol removal rate can be up to 94.6%. PSAC performance curve of phenol adsorption is in line with Freundlich isotherm adsorption equation. PSAC as a adsorbent of wastewater containing phenol has good development prospect.