The invention relates to the technical field of ecological peanut fertilizers, and provides a nitrogen-reducing and yield-increasing molasses ecological peanut fertilizer. The fertilizer contains the following components: 25-45 parts of urea, 10-30 parts of ammonium sulfate, 15-40 parts of monoammonium phosphate, 20-40 parts of potassium chloride, 0.1-0.6 part of zinc sulfate monohydrate, 0.5-1.2 parts of borax and 150-250 parts of cane molasses alcohol waste liquid. The fertilizer overcomes the defects in the prior art, is reasonable in design and compact in structure, and solves the problems that an existing peanut fertilizer is single in effect and cannot provide enough nutrients for peanut growth. According to the invention, cane molasses alcohol waste liquid is taken as a carrier, large and medium trace elements with proper proportion are added according to nutritional characteristics of peanuts in southern China and soil conditions, and the formula is long-acting; the cane molasses alcohol waste liquid is rich in various amino acids, proteins and polyglutamic acid, and the fertilizer can play a role in preserving moisture and fertility when being applied to soil. The great improvement and promotion effect and the ecological effect are achieved on southern peanut planting.