The two welterweights produced a fight-of-the-year contender at York Hall last year and once more they put on a show, this time over ten rounds.
It was 21-year-old Benn who had his hand raised at the finish, claiming his first belt in the professional ranks, the vacant WBA Continental title, taking a decision, helped by three knockdowns, via scores of 98-91, 98-90 and 97-90.
It was far from plain sailing for the Londoner, who took heavy hooks throughout what turned into a dogfight, but he impressed as the fight went on and in the end won convincingly.
Much like the first meeting, it was a dramatic start, both men hurling powerful blows at each other in an evenly-contested opening three minutes.
The intense action continued in the second, Peynaud able to get on the inside and hammer away, two heavy lefts doing damage, but the Frenchman then lost his balance and fell to the canvas. Even so, the referee scored what seemed a clear slip as a knockdown.
The third round saw the gritty Peynaud up the ante again, a left-right combination landing clean before more hooks slammed Benn against the ropes in what was becoming a worrying night for the unbeaten star.
After a hectic opening, the relentless pace slowed as the contest reached its middle rounds and Benn began to box more effectively on the back foot, working behind a spearing left jab to rack up points on the scorecards.
Increasingly in control, Benn had Peynaud on the floor again in the seventh, this time thanks to a stinging right hook to the body which forced the wincing Frenchman to fall to his knees briefly.
'The Destroyer', going the ten-round distance for the first time, started to showboat and enjoy himself late on, bringing out the Ali shuffle at one stage, and once more he had his man down from a right hook at close quarters.
Peynaud returned to his feet to see out the contest and even landed a massive right in the last, but the night belonged to Benn and there was no disputing his superiority.
Speaking afterwards, Benn said: "That was hard work. I really hurt my right hand early on.
"[Peynaud as a southpaw] ruined everything! I had to adapt. It was hard work."
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