An analytical expression of the peeling mode in the near separatrix region of diverted tokamak plasma is derived. It is shown that in diverted plasmas both with single and double X points, though the perturbed potential energy of the unstable peeling mode tends to be large, its growth rate becomes very small due to the even larger kinetic energy. Compared to some recent studies that give qualitatively correct results about this growth rate, our result is directly related with the diverted equilibrium quantities suitable for application to realistic experiments. An analytical expression of the peeling mode in the near separatrix region of diverted tokamak plasma is derived. It is shown in that diverted plasmas both with single and double X points, though the perturbed potential energy of the unstable peeling mode tends to be large, its Compared to some recent studies that give qualitatively correct results about this growth rate, our result is directly related with the diverted equilibrium quantities suitable for application to realistic experiments.