Peanut production has been severely repressed by sick soil resulting from long-term monoculture of peanut in red field in Jiangxi Province, China. Phosphorus chemical waste solid, phosphogypsum, was investigated to alleviate the sick soil due to continuous monocropping of peanut in red soil. Mixture of phosphogypsum with chemical nitrogen, phosphate and potassium fertilizer in a different ratio were applied to peanut plots in Yingtan Experimental Station of Agricultural Ecology, Chinese Academy of Sciences to assess their effect on nutrients of red soil and peanut yield and physiological and biochemical properties. The results showed that peanut yield in treatment of phosphogypsum-containing mixed fertilizer was increased by 3.5%~45.1% compared to comventional fertilizer treatments. The soil total nitrogen, available nitrogen and potassium was increased, while plant total N, P, K were raised compared with control. This indicated man-made phosphogypsum-containing mixed fertilizer would effectively relieve sick soil in red soil in the region of continuous monocropping of peanuts.