The soaking and refining processes of peanut slurry were studied by single factor and orthogonal design. The protein concentration and sensory evaluation were considered as the investigated index to optimize the processing parameters. The results show that the peanut slurry has high quality when the peanut (solid-liquid rate :1:12) was soaked at 50 ℃ with 0.50% NaHCO3 , and it indicated that the concentration of NaHCO3 was the most significant influence on the protein recovery and sensory evaluation.