Peanut protein is a byproduct of peanut oil extraction with limited applications within the food sector due to its low solubility and emulsifying properties. This study investigated the influences and mechanisms of high-intensity ultrasound (HIU, 200~600 W) and pH-shifting (pH 12), either individually or jointly, on the structure, solubility, and emulsifying properties of PP. Results indicated that the solubility of PP significantly increased after the combined treatment, particularly when the HIU power was 300 W (