By modified method yellow corvenia(called $Y_3$) was prepared with $4\%$ salt, $4\%$ KCl, $6\%$ sorbitol, $0.5\%$ lactic acid and $4\%$ alcohol extract of red pepper to improve the quality of fermented sea food. In this study, changes of volatile compounds and fatty acid composition obtained from modified fermented yellow corvenia($Y_3$) were experimented during fermentation, comparing with conventional fermented yellow corvenia(called $Y_1,\;20\%$ of salt contents). Total lipid of yellow corvenia was composed of $78.1\%$ of neutral lipid, $21.2\%$ of phospholipid and $0.7\%$ of glycolipid. And monoeonoic acid was held $37.4\%$ of fatty acid composition of total lipid and saturated fatty acid ($34.8\%$), polyenoic acid ($27.7\%$) were followed. Saturated fatty acid($C_{14:0},\;C_{16:0},\;C_{18:0}$) in $Y_1,\;Y_3$ increased, polyenoic acid ($C_{22:6}\;C_{22:5}\;C_{20:5}$) decreased while monoenoic acid($C_{16:1}\;C_{18:1}$) in those was little fluctuated during fermentation. Thirty-three kinds of volatile component in whole volatile compounds obtained from $Y_1,\;Y_3$ at 90 days fermentation were identified, and composed of some hydrocarbons (8 kinds), alcohols (7 kinds), acids (6 kinds), aldehydes(4 kinds), sulfides(2 kinds), ketones (2 kinds), one of phenol and 3 kinds of the other components. Among the whole volatile compounds 2-ethoxy ethanol and was held $79.35\%$ in $Y_3$, whereas nonadecane was held $75.85\%$ in $Y_1$. During fermentation 8 kinds of volatile acids, 5 kinds of amines and 9 kinds of carbonyl compounds were also detected. Those volatile acid such as acetic acid, isovaleric acid, n-caproic acid, n-butyric acid were the major portion of total volatile acids in $Y_3$ at 90 days fermentation. Meanwhile, carbonyl compounds such as ethanal, 2-butanone and butanal were the major ones, while TMA held the most part of volatile amines in $Y_3$ during fermentation. From the result of sniff test, the components which are believed to contribute to the characteristic flavor of fermented product $Y_1,\;Y_3$ are deduced to be volatile acid, carbonyl compounds and amines in order. Conclusively, there was little difference in composition of volatile components, but merely a little difference in content of those between $Y_3$ and $Y_1$.