The present investigation was undertaken with an aim to estimate the influence of season on genetic variability for traits related to WUE and kernel yield related traits in 289 F5 and F6 RIL population of groundnut. It was carried out in two seasons, during kharif 2013 and summer 2014 at K block, UAS, GKVK, Bangalore. Genetic variability estimates PCV, GCV, heritability (broad sense) and GAM (genetic advance as per cent of mean) were high for number of pods per plant, kernels per plant, kernel yield per plant and pod yield per plant indicating sufficient variability in both the seasons. Pod yield per plant exhibited significant positive association with SCMR, pods per plant, kernels per plant and kernel yield per plant and significant negative association with SLA. Kernel yield per plant exhibited high direct effect with correlation value on pod yield per plant while other traits recorded high indirect effect on pod yield per plant through kernel yield per plant. High inter generation correlation and narrow sense heritability was recorded for traits like days to first flowering, SCMR and plant height. Top high yielding genotypes like RIL 1527-7, RIL 1029-8, RIL 1041-9 were selected in F5 and F6 RIL populations depending on important traits associated with higher yield. Hence these genotypes could be further tested in multilocation to check their stability and the RIL population could be forwarded to further generations for mapping.