Changes in the physicochemical composition of wine vinegars produced by submerged culture system and aged in wood were followed. Five Sherry wine vinegars and a model vinegar solution were aged in six new American oak butts of 16.6 L capacity. A total of 24 phenolic compounds were monitored during the maturation study (24 months), along with other physicochemical parameters (total extract, acidity, residual alcohol and total phenolic index). Multivariate statistical analysis was applied to the data. From the sixth month on, significant changes were produced in most of the phenolic compounds, mainly aromatic aldehydes and 5-(hydroxymethyl)-2-furaldehyde. When all the phenolic compounds were considered as variables, cluster analysis grouped samples according to the wine substrate employed in the elaboration of vinegars under study. Within each subcluster, samples are arranged according to their aging status when phenolic compounds accounting significative changes at 180 days of aging are considered. Discriminant functions were constructed from the phenolic compounds data set. The validity of these functions was tested using 13 samples of aged commercial Sherry wine vinegars and 25 unaged vinegars. A total of 97.4% of the test samples was correctly classified within its respective group.