At 14-hour day length, 25 C leaf temperature, 9 mm Hg vapor-pressure deficit, and 1.17 joules cm−2 min−1 irradiance, the diurnal change in daily photosynthesis of the cultivated peanut (Arachis hypogaea L.) is a result of an endogenously controlled circadian rhythm in net photosynthesis which peaks near noon and troughs near midnight. By resetting the day-night light regime, the rhythm rephased in continuous light. The free-running rhythm approximates 26 hours. Both transpiration and dark respiration show similar rhythmicity, with transpiration closely in phase with the rhythm in photosynthesis. The rhythm in carbon dioxide compensation point is approximately 12 hours out of phase, peaking at midnight and troughing at midday. Endogenous changes in stomatal aperture seemed to be the major control of the rhythm in photosynthesis. The activity of ribulose-1,5-diphosphate carboxylase increased during the normal photoperiod, leveling off after 12 hours; however, the activity was not correlated with the rhythmic change in photosynthesis.