Description and specification of a new and distinct peach tree cultivar named ‘White Diamond’ which originated from a hand-pollinated cross of Ark. 392 (female, non-patented, unreleased genotype)בWhite River’ (male, U.S. Plant Pat. No. 15,159) is provided. This new peach tree cultivar can be distinguished by its late-season maturity, firm flesh, low-acid flavor, large freestone fruits and resistance to bacterial spot disease.