The effect of process and storage on the volatiles and odorant profile of Chinese dry sausage was evaluated, as well as its physicochemical parameters. Microbial esterification and wine (27.54%–43.35%), and lipid oxidation (11.30%–34.92%) played a key role in flavor profile during process and storage. A significant increase of each volatile was detected during process except gradual decrease of volatiles from spices, while a gradual decrease of each volatile was detected during storage except significant increase of volatiles from lipid oxidation and esterification. 15 and 6 odor-active compounds were respectively correlated (P < 0.05) with the process and storage time. Level of heptanal, 1-octen-3-ol, the ethyl of 2-methylbutanoic, 3-methylbutanoic, butanoic, benzoic, hexanoic, heptanoic, octanoic and decanoic acid were best discriminators of process stage, while (E)-2-nonenal, ethyl hexanoate, ethyl heptanoate, and methyl decanoate, were marker compounds of storage time. An objective method was established to evaluate the stages of process and storage for samples.