Peanut, with high oil content, has been a major oil and food crop globally. The compositions of the fatty acids are the common factors in determining the oil quality. In the present study, an F2 segregated population with 140 individuals derived from the cross of Weihua8 (a cultivar) and 12L49 (a line with high oleic acid concentration) was used to construct a genetic map and conduct QTL mapping analysis. A total of 103 polymorphic SSR primers were utilized for genotyping the RILs and finally generating the SSR loci. Within the 103 SSR loci, a genetic linkage map, covering a total length of 3592.35 cM of the whole peanut genome, was constructed. Based on the genetic map, sixteen QTLs located on nine linkage groups related to peanut fatty acids were finally identified. Among them, four QTLs were detected associated with various traits simultaneously, which showed genetic stability in relation to fatty acids of peanut. Except for the QTLs for oleic acid, linoleic acid, and linolenic acid, three novel QTLs for arachidic acid and behenic acid were also detected. These QTLs might be helpful for further fine mapping analysis and marker-assisted selection of fatty acids in peanut.