The present invention relates to the use of a solution containing at least one endopeptidase to substantially reduce or completely eliminate allergenic proteins contained in the peanut (Arachis hypogea). In particular, the direct application of a solution containing at least one endopeptidase to either raw, blanched, or roasted peanuts or peanut products or derivates, has been shown to substantially reduce or completely eliminate the activity of allergenic proteins. The treated peanuts showed no degradation in quality or sensory acceptability, and have the flavor and aroma of natural whole peanuts. Hypoallergenic or non-allergenic peanuts produced in accordance with the present invention may be used as ingredients in various food products and other edible materials.