Physalis peruviana L. has great nutritional value and economic viability, representing an innovation for Brazilian horticulture. However, knowing the ideal point of harvesting fruits of this species is a key factor in this process that allows maximum post-harvest utilization, providing better quality and minimal losses when the fruit is harvested at physiological maturity. Therefore, this study was conducted to characterize the physiological maturity of Physalis peruviana L. fruits. The experiment was laid out in a completely randomized design in which the treatmentscorresponded to different stages of fruit and seed maturation (20, 27, 34, and 41 days after anthesis [DAA]), with four replicates. The analyzed variables consisted of colorimetry (lightness, chroma and hue angle) of calyx and fruit; fresh weight, diameter (transverse and longitudinal), firmness, pH, total soluble solids, titratable acidity, total soluble solids:titratable acidity ratio, vitamin C and phenolic compounds of fruits; and carotenoids and chlorophyll (a and b) of calyx. The obtained data were subjected to analysis of variance and polynomial regression. Fruits intended for consumption must be harvested after 35 DAA, at which time yellow color and excellent organoleptic and nutritional qualities were observed.