The aim of this study was to investigate the influence of proteolytic, lipolytic and oxidative processes on the texture, color and aroma of dry-cured ham throughout processing. The study was conducted simultaneously on ham muscles, the biceps femoris (BF) and the semimembranosus (SM), sampled after six stages of the production process. Samples were analysed for color, texture and physicochemical parameters, proteolysis index, protein, amino acid and fatty acid profiles, lipid and protein oxidation, fatty acid profile (FA) and aroma compounds and sensory properties. Monitored processes on BF and SM proceeded at different rates during production. BF had higher values for color parameters (L *, a *, b *), higher water, ash, and NaCl contents, higher adhesive force, adhesiveness and cohesiveness. SM had higher protein contents, hardness, gumminess, chewiness and fracture. Increases in proteolysis index values, amino acid and dipeptide contents and degradation of sarcoplasmic and myofibrillar proteins were observed, with more pronounced effects in BF. Muscles of the final product showed similar FA profiles (38.72-38.77% SFA, 51.59-52.64% MUFA, 8.56-9.23% PUFA). The formation of oxidation products stabilized after ripening. A positive correlation between protein oxidation and proteolysis was observed. A total of 95 aroma compounds were identified, mainly aldehydes, phenols and alcohols. SM had higher (p <0.05) odor intensity, meat and smoke odor, muscle color and hardness and BF higher (p<0.05) moisture, saltiness and melting sensation. Smoking affected the development of the characteristic color, odor and aroma of dry-cured ham, but had no effect on proteolysis and lipolysis.