The presenter, who exposes unscrupulous and fraudulent tradesmen on the BBC programme, confessed to eight offences of dishonestly or knowingly claiming housing and council tax benefits at Bournemouth Magistrates' Court.
The court was told that Penteado failed to declare Rogue Traders earnings, which allegedly ranged from £6,000 to £16,000 during the four years he claimed benefits.
Penteado was granted bail while a pre-sentence report is prepared and the case has been adjourned until July 17, BBC News reports.
It has been alleged that Penteado, who also works as a private investigator, falsely claimed that he was a full-time student with a family in order to receive tax benefits between 2008 and 2012.
A warrant for his arrest was put out last month after he failed to respond to letters from Bournemouth Borough Council and missed a court date.