Ingredients

• 2 cups raw peanuts, preferably blanched
• ¼–½ cup peanut oil
• 18 dried Sichuan chiles or other red Chinese chiles, 8 with seeds removed, cut into strips, 10 left whole
• 1 tsp. Sichuan peppercorns
• 1½ tsp. kosher salt
• 1 tsp. sugar
• 1 tsp. Five-Spice Powder
• 1 tsp. ground Sichuan peppercorns (from 1½ tsp. whole)
• Pinch of freshly ground white pepper (optional)

Instructions

1. If using unblanched (skin-on) peanuts, place in a medium bowl and pour in water to cover. Let soak at least 6 hours and up to 12 hours. Drain peanuts, then rub off skins with paper towels if needed.
2. Arrange peanuts on a rimmed baking sheet and freeze at least 2 hours and up to 12 hours (this will dehydrate the nuts so that they crisp faster when fried). If using blanched peanuts, skip the soaking and freeze directly.
3. Place frozen peanuts in a wok or medium pot and pour in oil to cover by ¼". Bring to a simmer over medium heat and cook until peanuts are golden brown and float to the surface, 15–20 minutes. Using a spider or slotted spoon, transfer to paper towels to drain. Let oil cool. Transfer all but 1 tsp. oil to an airtight container; save for another use.
4. Add sliced chiles, whole chiles, and whole Sichuan peppercorns to skillet with oil and heat over medium-high, stirring constantly, until fragrant, about 2 minutes (don’t let the chiles brown—you want them to stay red). Mix in peanuts, salt, sugar, Five-Spice Powder, ground Sichuan peppercorns, and white pepper (if using). Transfer to a small bowl; let cool.
5. Do Ahead: Peanuts can be made 3 days ahead. Store airtight at room temperature.