Wine is a complex alcoholic beverage. The wine matrix or the components that are present in the wine play an important role in the perceived aroma and flavor of the wine. The wine matrix is composed of two fractions, the nonvolatile fraction, which includes ethanol (in liquid phase), polyphenolic compounds, proteins, and carbohydrates, and the volatile fraction, which incorporates flavor and aroma compounds. Interactions among these compounds may arise through various mechanisms, thus affecting the sensory and chemical properties of the wine. The main focus of this review is to highlight recent research on wine component interactions and their effects on perceived aroma in the wine. An overview of the wine impact odorants and their determination using sensory and chemical methods is also provided in this paper.