Nonfat dry milk (NDM) is widely used both as an ingredient in other preparations and for direct consumption. Flavor quality of NDM is a critical parameter because it can directly impact final product quality. Flavors can be formed in NDM during subsequent storage. Identification of compounds responsible for storage-induced flavors is necessary to correlate sensory quality with potential sources of the flavors. Six NDM samples were selected for volatile flavor analysis based on sensory analysis and storage time. Volatile components were extracted by direct solvent extraction/high vacuum distillation. Volatile extracts were separated into neutral/basic and acidic fractions and analyzed by gas chromatography-olfactometry (GCO) and aroma extract dilution analysis (AEDA). A variety of aldehydes, ketones, and free fatty acids were responsible for generation of flavors in stored NDM. The following compounds exhibited high aroma impact by AEDA: 3-(methylthio)propanal (boiled potato); o-aminoacetophenone (corn tortilla); 2,5-dimethyl-4-hydroxy-3(2H)-furanone and 2-methyl-3-hydroxy-4H-pyran-4-one (burnt sugar); butanoic acid (cheesy); pentanoic acid (sweaty); acetic and hexanoic acids (sour/vinegar); octanoic, decanoic, and dodecanoic acids (waxy); p-cresol (cowy/barny); 3-methylindole (fecal); dimethyl trisulfide (cabbage); (E,E)-2,4-decadienal (fried/fatty); furfuryl alcohol (rubber/vitamin); phenylacetic acid (rose-like); and 1-octen-3-one (mushroom).