In order to study the effect of both, ripening time and IMF content on the volatile profile of Iberian dry-cured loin, volatile compounds from the headspace of 10 Iberian dry-cured loins with different intramuscular fat contents (IMF), low (average IMF content of 2.3%) and high (average IMF content of 6.7%), at days 40 and 55 of the ripening process were analysed using SPME coupled to a direct extraction device (DED) and subsequent gas chromatography/mass spectrometry (GC/MS). Chromatographic areas of the main chemical families detected (hydrocarbons, aldehydes, alcohols, ketones and acids) increased with ripening time. A higher total chromatographic area was detected in the headspace of high IMF loins compared to low IMF ones. Several volatile compounds derived from lipid oxidative reactions, such as hexanol, octanal, (E,E)-2,4-heptadienal or (E)-2-decenal, and others from the degradation of certain amino acids, such as dimethylsulfide, 3-methylbutanal or phenylacetaldehyde, showed higher chromatographic areas in the headspace of high IMF loins than in low IMF ones. Thus, IMF content could influence both the generation of volatile compounds and the transfer of such compounds from the product matrix to the headspace.