The purpose of this study was to investigate the Maillard reaction–related physicochemical properties of three maize varieties (Kwangpyeongok, Sinhwangok2ho and Gangdaok) after roasting them for different times (0, 15, 25, 40, and 55 minutes). The Maillard reaction is a non-enzymatic browning reaction involving reducing sugars and amino compounds. The content of reducing sugar, the causative agent of the Maillard reaction, decreased as roasting time increased. Gangdaok showed the lowest reducing sugar content of 1.04 mg/g after 55 minutes of roasting. In the elapsed roasting time, chromaticity ‘L’ and ‘b’ values decreased. At 55 minutes of roasting, wherein the Maillard reaction occurred most actively, Gangdaok showed the lowest ‘L’ value of 56.37 and the highest ‘a’ value of 7.60. Gangdaok had superior conditions for inducing the Maillard reaction compared to other varieties, and it is consider that 'flint–type', an endosperm characteristic, may have been the influencing agent. This study detected a total of 52 types of volatile aroma compounds (VACs), of which 28 were produced after roasting. Of the total VACs detected, 2-Formyl-5-methylfuran and 2-Furancarboxaldehyde accounted for 43.8~45.5% and have been confirmed to be the major VACs present in roasted maize. Most of the correlations between the Maillard reaction–related characteristics showed high correlation coefficients.