Peanut (Arachis hypogaea L.) is a valuable food and forage crop in Ghana. Pod and biomass yields in Ghana are low. It is important to determine yield limiting factors and to develop suitable crop management practices to improve peanut productivity. The objective of this research was to determine the influence of sowing densities and fungicide application on growth, biomass and yield of peanut. Two peanut cultivars [Chinese, 90 days duration and Monipinter, 130 days duration) were grown at three sowing densities [low (80,000 ha^-1), medium (120,000 ha^-1) and high (200,000 ha^-1)] with and without fungicide application. Data on leaf area index, light interception and total biomass were measured at different stages of crop development. Haulm, pod and seed yields were measured at harvest maturity. Fungicide application significantly increased leaf area index, light interception and total biomass from 65 days after sowing until harvest maturity. The long duration cultivar Monipinter had significantly greater leaf area index, light interception, total biomass at later stages of crop development when compared to short duration cultivar Chinese. The growth and yield was significantly less at the lowest population density when compared to medium or high population densities. There was no significant difference between medium and high population densities on haulm, pod and seed yield at harvest maturity. We conclude that sowing density of 120,000 plants ha^-1, long duration cultivar (such Monipinter) along with application fungicide significantly improved peanut yields under rainfed conditions in Ghana.