Tempeh has been one of the most widely accepted fermented products and usually produced by fermenting soybeans inoculated with Rhizopus oligosporus / Rhizopus oryzae. Tempeh could be prepared with legumes other than soybean thereby increasing the acceptability and digestibility of the common legume. Dolichos lablab is a herbaceous plant with high nutritional benefits and still under-used in various countries because of anti-nutrient factors, such as enzyme (trypsin, chymotrypsin, amylase) inhibitors, phytic acid, flatulence factors, etc. A processing technique that removes anti nutritional factors to safe level will improve the nutritional quality of this legume. The purpose of this study is to prepare and standardize tempeh using fresh Dolichos lablab and Arachis hypogea in 75:25 ratio and to evaluate the physio-chemical, nutritional and organoleptic quality of tempeh and its value added products viz., tempeh fry and tempeh gravy The quality analysis of this tempeh had 50.03 per cent of moisture, 20.13 g of carbohydrate, 19.37g of protein, 4.48 g of fat, 3.00 g of dietary fiber. On comparing the fresh tempeh, protein content of dried tempeh has increased considerably by 41.24 per cent and in the value added product viz., tempeh gravy and tempeh fry, protein content has increased by 16.67per cent and 5.09 per cent respectively. There was 100 per cent removal of anti nutritional factors viz., tannin and phytic acid due to various processing techniques. The overall acceptability of tempeh products was highly acceptable with score point of 8.0 ± 0.5 /9.0 and 7.5± 0.5 /9.0 for tempeh fry and gravy respectively. The unit cost production of 200 g of tempeh was Rs.50.00 only.