The effects of electron–electron (e–e) interactions on the two-dimensional (2D) Peierls state are discussed using the 2D Peierls–Hubbard model (2D PHM) in the limit of U ≫ t 0 , where U is the on-site e–e interaction parameter between up and down spin electrons and t 0 is the electron transfer integral between nearest neighbor sites. In this limit, the 2D PHM can be mapped onto the 2D spin-Peierls model (2D SPM) in which the effect of the lattice distortion is taken into account in the spin exchange interaction of the 2D Heisenberg model. As was demonstrated in a previous paper [J. Phys. Soc. Jpn. 69 (2000) 1769], the ground state of the 2D electron–lattice (e–l) system (the 2D 1/2-filled SSH model) is the so-called multimode Peierls state where the lattice distortion involves Fourier components with the nesting wave vector Q =(π/ a ,π/ a ), a being the lattice constant, and with those paralell to it. Using the exact diagonalization technique it is shown that the spin-Peierls transition with a mutlimode l...