The objective of this study was to assess the effects of ultrasound-assisted thawing (UAT) on the quality of longissimus dorsi muscles from white yak meat (WYM). Ultrasonic power levels of 0, 200, 400, and 600 W (frequency of 20 kHz) were used to assist thawing. The thawing rate, meat quality, nutrient substances, volatile compounds, and microstructure of the WYM were determined. The results showed that ultrasonic thawing treatment reduced thawing times by 30.95–64.28% compared to control. The meat quality results revealed that the thawing loss, cooking loss, L* and b* values, and pH values decreased significantly while the a* value and cutting force increased significantly (P < 0.05) at the lower 400 W power level compared with the control. In addition, the free amino acid (FAA), mineral, and vitamin (especially water-soluble vitamins) contents were significantly (P < 0.05) increased with the ultrasound treatment. UAT significantly (P < 0.05) increased the content of volatile compounds, an effect that was highest in the UAT-400 W group. Partial least squares discrimination analysis (PLS-DA) showed that 2,4-heptadienal was critical in distinguishing the UAT groups from the control. When the ultrasonic power was lower than 400 W, the muscle cell area was significantly (P < 0.05) increased but decreased when higher power was used. Therefore, UAT improves the thawing efficiency and quality of frozen WYM, particularly at a power level of 400 W, and these findings have potential applications in the meat industry.