A field experiment was conducted to investigate the influence of N and P and evaluate the performance of hot pepper varieties. Treatments comprised three rates of N (0, 46 and 92 kg N ha^(-1) and three rates of P_2O_5 (0, 69 and 138 kg P_2O_5 ha^(-1)), and three hot pepper varieties (Marako fana, Melka zala and a local variety). The experiment was laid out as a randomized complete block design in a 3 x 3 x 3 factorial arrangement with three replications. The results indicated that the interaction effect of N, P_2O_5 and variety was significant on many of the parameters considered. Treatments that received fertilizer combination of 92 kg N ha^(-1) and 138 kg P_2O_5 ha^(-1) gave maximum fresh fruit yield (10.92 t ha^(-1))(Mareko fana), highest total dry fruit yield (1.97 t ha^(-1)) and the maximum marketable yield (1.91 t ha^(-1)) in the same variety. Using N and P_2O_5 fertilizers at the rates of 92 kg N and 138 kg P_2O_5 ha^(-1) thus can feasibly be used for obtaining fresh as well as dry pods.