In this paper, Antarctic krill was used as the raw material. Physicochemical indexes, flora changes and flavor substances of shrimp paste with different salt concentrations and fermentation days were investigated. The main dominant bacterial groups in the shrimp paste samples were detected by 16S rDNA high-throughput sequencing technology. At phylum level, the dominant bacteria groups were Proteobacteria, Firmicutes and Actinobacteria, while at genus level, the dominant bacteria groups were Staphylococcus, Psychrobacter and Herbaspirillum. Qualitative analysis of volatile compounds in shrimp paste samples by GC-IMS technique. A total of 29 volatiles were detected, and a total of 37 volatile flavor compounds including dimers and trimers were isolated and identified, including 16 aldehydes, 8 alcohols, 8 ketones, 2 ethers and 3 esters. Establishing correlations between important colonies and volatile compounds.