Preheat the oven to 300 degrees Fahrenheit and line a baking sheet with parchment.
In a mixing bowl, combine the melted butter, Old Bay, Worcestershire sauce, and Tabasco sauce. Stir thoroughly.
Add peanuts to the bowl and coat them thoroughly.
Transfer the peanuts to the parchment-lined baking sheet and spread them out evenly.
Cook the peanuts in the oven for 30 minutes, flipping once at the 15 minute mark to promote even browning.
Remove the peanuts from the oven and allow them to cool for five minutes. Serve immediately, or transfer the Old Bay peanuts to an airtight container for future eating enjoyment!