Fenjiao (Musa ABB Pisang Awak) is a popular banana cultivar due to its good taste and stress resistance, but it has a short shelf-life and deteriorates rapidly post-harvest. The effects of 1-methylcyclopropene (1-MCP) treatment on fruit physiology and quality and transcriptomic profiles are investigated in this study. The results showed that 1-MCP significantly delayed fruit ripening by repressing fruit softening and inhibiting the respiratory rate and ethylene production. The 1-MCP treatment delayed sugar accumulation and influenced the content of the precursors of the biosynthesis of aroma volatiles. 1-MCP reduced the production of flavor-contributing volatile esters isoamyl isobutyrate, isoamyl acetate and trans-2-hexenal and hexanal, but dramatically increased the hexyl acetate production at the full-ripening stage. The transcriptomic analysis showed that 1-MCP dramatically affected the transcript profiles during fruit ripening, especially the KEGG pathways involved in amino acid metabolism, biosynthesis of other secondary metabolites, carbohydrate metabolism, lipid metabolism, signal transduction, and translation classes. The key genes and the corresponding enzyme activities involved in the volatile and ethylene synthesis were severely repressed due to the 1-MCP treatment. The 1-MCP treatment effectively delayed Fenjiao fruit ripening, but affected volatile production by reducing the precursor production and expression level of genes involved in the metabolism pathways of ethylene, auxin and volatiles.