To investigate changes of components in salt-fermented anchovy sauce by long fermentation, various chemical properties were examined. The moisture, crude protein, crude lipid, and crude ash contents of the anchovy sauce by fermentation were 67.48~69.35%, 5.47~7.40%, 0.27~0.47% and 23.82~24.12%. The moisture and pH was decreased slightly, but the contents of crude protein, crude lipid, acidity and amino-N degree were increased gradually by long fermentation. And contents of crude ash, VBN and salinity showed almost no change. Total free amino acid contents of 1, 3, 6, 9 and 12 year fermented samples were 8,762.2 mg%, 9,484.6 mg%, 10,085.8 mg%, 10,650.7 mg% and 10,123.7 mg% respectively. Major free amino acid of samples were glutamic acid, leucine, lysine, alanine, valine, isoleucine in ordor. The samples were caused by their composition of the free amino acids rations, in which were umami, sweet and bitter taste in the extracts of anchovy during long fermentation. In Hunter values, fermented samples were generally lower in L, b values whereas higher in a, ${\Delta}E$ values. And absorbance at 453 nm was increased gradually by fermentation. Sensory evaluation result of samples, 6 years sample was the highest than the others in overall acceptance.