The abalone viscera contain high levels of proteins, amino acids and other bioactive compounds that possess significant utilitarian value. In this study, abalone viscera were used as raw material and the enzymatic hydrolysates were hydrolyzed by biological enzymes. The flavor and taste of the enzymatic hydrolysates were improved by the Maillard reaction. The results showed the Maillard reaction products (MRPs) had a high antioxidant activity. The GC–MS with headspace solid phase microextraction results indicated aldehydes and ketones were the main volatile compounds, and the content of fishy and unpleasant odors in the MRPs decreased or even disappeared. E-tongue results showed the bitter and astringent flavors in the MRPs were significantly reduced. The content of free amino acids presenting bitter flavors was significantly reduced. In conclusion, the flavor of the enzymatic hydrolysates could be improved greatly after the Maillard reaction, and the MRPs had the potential to be used as flavorings.