In the current education system academic-based peer counseling is increasingly becoming critical. Its success depends on the perception of teachers and students on the influence of peer counseling services. The purpose of the study was to establish the influence of peer counseling services on academic performance as perceived by teachers and students in Kaka mega South District. The study was based on the fifth stage of Erickson’s theory of psychosocial development. A descriptive survey research design was adopted. The study population comprised of 23 principals, 349 teachers and 7160 students. Questionnaire and interview guide were used to collect data. Content validity was established by giving the instruments to experts in the department of Educational psychology. Quantitative data was analysed using descriptive statistics such as frequency counts and percentages. Qualitative data was received in verbatim, transcribed and organized according to themes. A higher proportion of students compared to teachers in the district have a positive perception of participation in joint academic discussions, small subject-based peer counseling groups is perceived as having a direct influence on students’ academic performance. The study concluded that, Joint academic discussions and small subject-based discussion groups are the key PC services. The study recommends that there is need for stakeholders in education to enhance academic performance through exploitation of the benefits of joint group discussions and small subject-based discussion groups.