Characteristic aroma compounds are emitted in each of the three main stages of bread production. The present study consisted in detection and measurement of odors emitted during the dough fermentation and bread baking processes with use of metal oxide (MOS) sensors and identification of aroma compounds using gas chromatography coupled with mass spectrometry (GC-MS). The generated sensorgrams were analyzed using a new determination method based on three parameters read from the sensorgram. Groups of volatile compounds characteristic for the dough fermentation stage, i.e. alcohols, aldehydes, esters, ketones, acids, for the baking process, i.e. pyridines, hydrocarbons, amides, were determined. The investigations and statistical analysis of the results revealed the responses of the electronic nose and its potential to be used for detection of volatile organic compounds generated during bread production. The study indicates that the use of three sensorgram parameters yields precise identification of the type and stage of the process.