The invention relates to a one ridge two crops water saving and yield increasing cultivation method for wheat and peanut two cropping system, belonging to the technical field of agriculture. The method is characterized in that, ridges are arranged on field blocks; wheat is planted in rows on the ridges, and peanut is interplanted among the rows of wheat on the ridges; furrows are arranged among the ridges, and furrow irrigation is performed regularly. The one ridge two crops water saving and yield increasing cultivation method for wheat and peanut two cropping system has the advantages that, the traditional flatten culture of wheat and peanut two cropping system is changed to ridge culture; through dual-purpose ridge, furrow irrigation and row application, the unification of high yield, water saving and fertilizer saving of wheat and peanut is realized.