Field trial was carried out to study the effects of NPK fertilizers combined different types of straw amendments on soil nutrients, microbial properties and crop growth. It indicated that compared with the other treatment(NPK、NPKD1、NPKD2), the treatment of NPK combined straw directly returning decreased soil available nitrogen and phosphorus by 7.88%–31.37% and 7.72%– 23.82%. The urease activities declined first and increased later with the growth of peanut in all treatments, but opposite trends showed in invertease activities except the NPK treatment. The treatment of NPK combined FeSO4 promoted straw compost increased the urease activity by 26.14%, and the treatment of NPK combined alkali slag promoted straw compost enhanced the invertease activity by 66.13%. Microbial biomass carbon in the treatment of NPK combined FeSO4 promoted straw compost was higher than those in other treatments. Meanwhile, the treatment of NPK combined FeSO4 promoted straw compost also improved peanut growth and peanut yield.