Peterson is a city in Fillmore County, Minnesota, United States. The population was 199 at the 2010 census.
According to the United States Census Bureau, the city has a total area of 0.5 square miles (1.3 km²), of which, 0.5 square miles (1.2 km²) of it is land and 0.04 square miles (0.1 km²) of it (4.00%) is water.
As of the census of 2000, there were 269 people, 98 households, and 65 families residing in the city. The population density was 557.5 people per square mile (216.4/km²). There were 118 housing units at an average density of 244.5 per square mile (94.9/km²). The racial makeup of the city was 99.63% White and 0.37% Asian. Hispanic or Latino of any race were 0.74% of the population.