Jacinto Peynado Garrigosa nació el en el Distrito Nacional. Era hijo de Enrique Peynado Soler y Miguelina Olimpia Garrigosa Thormann; por vía paterna era nieto de Jacinto Peynado y Peynado, quien fue presidente de la República entre 1938 y 1940, también fue biznieto del general Jacinto Peynado Tejón, restaurador y lugarteniente del prócer Francisco del Rosario Sánchez. Peynado Garrigosa estaba casado con Margarita Álvarez, ex vicealcadesa del Distrito Nacional de 2002 a 2016, con quien procreó 5 hijos,  Ángela Miguelina, Laura, Jacinto, Daniel (fallecido) y Manuel.

Peynado cursó sus estudios primarios en el Colegio Dominicano de La Salle y los secundarios en el Taft School de Watertown (Connecticut, Estados Unidos). Estudió Finanzas y Comercio en la Universidad de Pennsylvania. Peynado se inició en las actividades políticas en 1982. Participó como candidato a senador del Distrito Nacional por la coalición de los partidos Reformista y Revolucionario Social Cristiano (PRSC).

En esa ocasión ganó Jacobo Majluta, del Partido Revolucionario Dominicano (PRD). Su experiencia de trabajo comenzó en Atlas Commercial Company en 1961, donde laboró hasta 1962 cuando pasó a la fundación de Delta Comercial, de la que fue presidente-administrador desde sus inicios. Esta empresa fue vendida en el 2001 al grupo empresarial que encabeza el exsenador José Antonio Najri.
Antes, fue senador por la capital en los períodos de 1986 a 94, presidente del Consejo Nacional de Drogas en 1988 y vicepresidente del Parlacen (1989-94).

Fue miembro del Directorio Central Ejecutivo y secretario administrativo del PRSC. Como senador, Peynado presentó más de cuarenta proyectos de ley, entre los que figuran el aumento a los salarios a los miembros del Poder Judicial, la creación de la Cámara de Comercio, Producción y Desarrollo, la modificación del reglamento del Senado, la ley 62-88 sobre Hábeas Corpus y la modificación de la ley de cheques 2859.

A principios del decenio del 1990 era presidente de ocho empresas y miembro de las juntas de directores de varias compañías y de una institución de estudios superiores. Peynado presidió por seis años la Comisión de Finanzas y por dos años la Comisión de Justicia del Senado. Fue vicepresidente del Parlamento Latinoamericano.Fue presidente del Consejo Nacional de Drogas y encabezó las comisiones de seguimiento a las Cumbres de La Infancia, La Tierra e Integración Comercial y Económica.

En marzo de 1994, fue seleccionado por Joaquín Balaguer como compañero de boleta para las elecciones de ese año. Tras el PRSC ganar esa contienda, Peynado ocupó la vicepresidencia de la República durante dos años, debido a los cambios hechos a la Constitución en 1994, tras la crisis post electoral.

En 1995 ganó las primarias para optar por la candidatura presidencial del PRSC, venciendo con un amplio margen a sus competidores. En 1996, un sector de la organización política, entre ellos el presidente Joaquín Balaguer, decidió inclinarse en una segunda vuelta electoral hacia el candidato presidencial del Partido de la Liberación Dominicana(PLD), Leonel Fernández.
 

Muerto Balaguer en 2002, Peynado apostó al proceso electoral de 2004 y preparó su plataforma nacional tras la candidatura por el PRSC.   Casi todas las encuestas le favorecían, pero Eduardo Estrella le ganó 51.8% frente al 48.1%, con sólo seis meses de precampaña.

Peynado el 19 de abril del 2004 decidió apoyar la candidatura de Leonel Fernández. El 6 de mayo, el tribunal disciplinario del PRSC lo expulsó por “alta traición e intento de división”
Luego de las controvertidas elecciones primarias reformistas del 30 de marzo de 2003, Peynado viajó el 14 de junio a Miami, para tratarse el diagnóstico de cáncer, sólo oficializado el día de ayer.

Días después fue operado bajo el cuidado del especialista Adrián Legaspi, en el Monte Sinaí.  Guardó reposo en su residencia de la ciudad estadounidense, pero sin desconectarse de la política local, renuente siempre a apoyar la candidatura presidencial de Eduardo Estrella.

Fue operado por segunda vez el dos de noviembre y a principios de mayo volvió al quirófano, tras otra recaída que lo mantuvo postrado

Falleció en Miami el 9 de agosto del 2004 a consecuencia de un cáncer.
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