In this paper we study CP violation in the B→PP decays in the Standard Model using SU(3) flavor symmetry. With SU(3) symmetry, only seven hadronic parameters are needed to describe the B→PP decays in the SM, when annihilation contributions are neglected. The relevant hadronic parameters can be determined using known experimental data from B→ππ and B→Kπ. We predict branching ratios and CP asymmetries for some of the unmeasured B→PP decays. Some of the CP asymmetries can be large and measured at B factories. The effects of the annihilation contributions can also be studied using the present experimental data. Inclusion of annihilation contributions introduces six more hadronic parameters. We find that the annihilation contributions are in general small, but can have significant effects on CP asymmetries and some B(subscript s)→PP decays.