The youngest of 13 children, Ebenezer was 22 years younger than his eldest brother. He grew up on the family farm in Fairfield County, about 8 miles from Lancaster, Ohio. After attending the local District School, he also matriculated at Granville Baptist College.

Ebenezer migrated to Marion, Ohio, in 1832, stayed about one year, then returned to Fairfield County to teach and study at Fairfield Amanda University for one year. He then taught for two years, and returned to Marion, Ohio in 1838.

Ebenezer, along with his oldest brother Henry Peters, formed a Marion mercantile business called "H. & E. Peters". The partnership lasted three years, then he became the sole proprietor for another two. He then took in a different partner and the business was called "E. Peters & Co." for two years.He became the sole owner of the business again, and continued in that manner until he retired in 1850. Ebenezer extended his sphere of trade to other areas of Ohio plus Illinois, and continued in this business until the Civil War. He also owned 600 acres of farmland, with the 1860 census stating that he had $14,000 in real estate and $4,000 in personal estate value; they had a farm laborers and an Irish domestic living with them. He raised Spanish Merino sheep and Durham cattle, and exhibited regularly at the fair.

In July, 1846, Ebenezer married Elizabeth Raichley and they had two children, Erwin Peters in 1848 and and Ella Peters in 1850; Elizabeth died in 1851. He remarried, to Elvira Gardner in October of 1853, but she passed away in August of 1854. He married third Narcissus D. Holmes on 25 Dec 1855.

Ebenezer was active in his community, being County Auditor 1851-2, a State Legislator 1854-5, School Board President for 8 years, and President of the Agricultural Society for 8 years as well.

At age 44 Ebenezer enlisted in the 121st Regiment, Ohio Volunteer Infantry, and served as their Quartermaster General for two years. He was engaged at Perryville, Stone River, Chickamauga, Shelbyville, Lookut Mountain, and Mission Ridge on 25 Nov. 1863. It was at Mission Ridge that he began to have spinal problems, and he never fully recovered. After his discharge on May 1864, he received a $20 pension due to his disability.

The 1870 US Federal Census lists Ebenezer's occupation as "Grader"- likely he was grading papers since he had been a teacher and could no longer work as a farmer. His wife Narcissus and son Erwin were living in his household, and Erwin was listed as a farmer. A music teacher and young boy, likely the music teacher's son, lived with them as well. Ebenezer, Narcissus, and Erwin were together again in the 1880 census, with Ebenezer listed as a farmer, and his son Erwin noted as "works on farm." Ralph Bain, age 15, was "at school" and listed as Ebenezer's adopted son.

Narcissus died in October of 1881, and Ebenezer's two children both died in 1883. Ebenezer passed away on 27 May 1884.

See "Pioneer Period and Pioneer People of Fairfield Co., Ohio" by C.M.L. Wiseman, 1901, pp. 185-192 for more info on the Peters family. This entry from Dana is about Ebenezer's brother and the family farm:

"Brother Stevenson Peters lived near East Ringgold in Pickaway Co. on his old family farm where a Grand Reunion took place in 1882 & his remaining 11 of 13 siblings came together for the 1st time in over 50 yrs. Stevenson's son took over the home after his death through the early 1900s.

In 1929, 47 yr. after the Grand Reunion another huge reunion took place at his nephew's in Columbus with 163 family members from OH, IL, etc. Their parents' descendants formed The Peters Family Association around this time."