Combine the peanuts, salt, and honey in a food processor. Then, process for 1 minute.
Scrape down the sides of the bowl, place the lid back on and continue to process while slowly drizzling in the oil. Process until the mixture is smooth, 1 1/2 to 2 minutes.
Store the peanut butter in an airtight container in the refrigerator for up to 2 months.