Abstract There is evidence for the beneficial effects of forage peanut on the nutritive value and fermentation profile of silages; however, its effects on sugarcane silage have not been determined. The objective of the study was to evaluate the chemical composition, fermentation profile, microbial composition, and dry matter recovery (DMR) of sugarcane silage containing various amounts of forage peanut (Arachis pintoi cv. Belmonte) (0%, 25%, 50%, and 75% on a fresh matter basis), treated or untreated with Lactobacillus buchneri. A completely randomized 4 × 2 factorial design was used with three replications. The interaction between forage peanut levels and inoculant influenced the concentrations of dry matter, crude protein, neutral detergent fiber and acid detergent fiber, organic acids and ethanol, populations of lactic acid bacteria and yeast, gas and effluent losses, and DMR. Forage peanut levels had effects on dry matter, hemicellulose, acid detergent insoluble nitrogen, pH, and ammonia nitrogen. Increasing proportions of forage peanut increased the protein content and decreased the fiber content in the silage, while also reducing the production of ethanol and effluent. We recommend the inclusion of 40%–75% forage peanut in the sugarcane ensilage to improve the chemical composition and fermentation profile. Furthermore, inoculation with L. buchneri associated with forage peanut increases the concentration of antifungal acids in the silage and decreases the yeast population and ethanol production.