In this paper, we study $L^p$-conjecture on locally compact hypergroups and by some technical proofs we give some sufficient and necessary conditions for a weighted Lebesgue space $L^p(K,w)$ to be a convolution Banach algebra, where $1<p<infty$, $K$ is a locally compact hypergroup and $w$ is a weight function on $K$. Among the other things, we also show that if $K$ is a locally compact hyper...