Peer-to-Peer(P2P)networking technology is a currently emerging technology in the network research domain.And load balancing is a critical issue for the efficient operation of peer-to-peer networks.In this paper,we propose an algorithm for load balancing in such heterogeneous,dynamic P2P systems.Our simulation results show that in the face of rapid arrivals and departures of objects of widely varying load,The basic idea of our load balancing algorithm is to store load information of the peer nodes in a number of directories which periodically schedule reassignments of virtual servers to achieve better balance our algorithm achieves load balancing for system utilizations as high as 90% while moving only about 8% of the load that arrives into the system.