The effects of indigenous fermentation on volatile compound profiles in a Theobroma cacao L, TSH565 clone, resistant to Moniliophtora perniciosa and Phytophthora spp. were evaluated in Southern Brazil. Sixty-three volatile flavor compounds in pulp and 36 in grains were identified by SPME-HS/GC–MS and classified as terpenes, alcohols, esters, ketones and aldehydes, among others. The relative amount of these compounds and their evolution until the end of the fermentation process were assessed in both fresh and fermented grains/pulp masses. β-myrcene and β-cis-ocimene, among terpenes, were detected in high amounts and are associated to a fine chocolate aroma. The sensory evaluation of chocolates manufactured from the fermented cocoa was performed by trained panelists, which defined 15 sensory descriptors. Chocolates from the TSH565 cultivar were characterized by a rich, fruity, intense cocoa flavor and bitterness, which are valuable sensorial and commercial attributes.