Recent studies of fungal infections in crops have been a popular research topic since they may bring several health hazards especially for food contamination. This study aimed to identify, characterize, and assess raw peanut kernels that were collected from five stalls in public market of Southern Iloilo and subjected to fungal assessment. Peanut kernels were homogenized, serially diluted, spread-plated on Potato Dextrose agar and were incubated for 1-2 weeks. Macroscopic and microscopic observations of filamentous fungal isolates based on colonial morphology, vegetative and spore characteristics were used to describe and identify the fungal isolates’ genera. Findings showed that all peanut samples in the stalls had fungal contamination. Rhizopus sp. was present in all stalls while Aspergillus sp. was present only in four other stalls. Another Aspergillus sp. was present in one stall only. This investigation pointed out that fungal contamination of mycotoxin from raw peanuts sold in Public Market of Southern Iloilo could be possible.