The present study aimed to ascertain how the volatile compounds changed throughout various processing steps when producing a smoke-flavored sea bass ( Lateolabrax maculatus ). The volatile compounds in different production steps were characterized by headspace-solid phase microextraction-gas chromatography-mass spectrometry (HS-SPME-GC-MS) and headspace-gas chromatography-ion mobility spectrometry (HS-GC-IMS). A total of 85 compounds were identified, and 25 compounds that may be considered as potential key compounds were screened by principal component analysis (PCA) and partial least squares discriminant analysis (PLS-DA). Results indicated that aldehydes were the major volatile compounds throughout the processing. The characteristic volatile compound in fresh samples was hexanol, and curing was an effective method to remove the fishy flavor. The concentration of volatile compounds was significantly higher in dried, smoked, and heated samples than in fresh and salted samples. Aldehydes accumulated because of the drying process, especially heptanal and hexanal. Smoke flavoring was an important stage in imparting smoked flavor, where phenols, furans and ketones were enriched, and heating leads to the breakdown of aldehydes and alcohols. This study will provide a theoretical basis for improving the quality of smoke-flavored sea bass products in the future.