The invention discloses a mixed pesticide for preventing and controlling melasma and cercospora brown spot of peanut. The pesticide is prepared from the following raw materials in parts by weight: 6-18 parts of propineb, 1-3 parts of tebuconazole and 500-12600 parts of water. The dosage of propineb is 30g/mou, and the dosage of tebuconazole is 5g/mou. The propineb and the tebuconazole are matchedin the weight ratio of 6:1 per mou, and then 500-600 times of solution is added. The pesticide is applied twice in the primary disease incident period, and the interval of the pesticide application is 10-14 days. The invention can effectively control the peanut melasma, but also can obviously inhibit the cercospora brown spot of peanut, thereby achieving the purpose of one pesticide with multiplefunctions. The invention reduces the pesticide applying amount, prolongs the effect time, reduces the pesticide applying times, lightens the environment pollution, and is favorable for the ecologicalbalance.