Most people don't realize potato peelers can go dull, and when they do it is fairly inexpensive to purchase a new peeler. However, it is possible to sharpen the blades of the potato peeler. Sharpening the blades may come in handy when you need to use the potato peeler a lot, such as Thanksgiving or large family gatherings throughout the year.
Run a paring knife along both blades of the potato peeler. The metal-on-metal action will restore some of your blade's edge.
Run the sharpening steel across the blades of the potato peeler. This technique is especially useful on rusted potato peeler blades and the potato peeler will again become shiny once you run the sharpening steel across the blades.
Try out the new sharpened blades of the potato peeler and repeat the steps if necessary.