The volatile flavour compounds of Herzegovinian dry smoked goat meat were investigated by using headspace-solid phase microextraction (SPME) and gas chromatography-mass spectrometry (GC-MS). A total of 97 volatile compounds were identified and quantified which belonged to several chemical groups: phenols (75.12%), aromatic hydrocarbons (17.47%), aldehydes (3.89%), acids (3.55%), alcohols (2.07%), ketones (1.60%), furans (0.36%), hydrocarbons (0.29%), terpenes (0.19%), esters and lactones (0.06%). The most common groups of volatile compounds in the samples of Herzegovinian dry smoked goat meat were phenols, aromatic hydrocarbons and aldehydes. Of all the identified compounds, the most common were p-cresol, creosol and 2,6-dimethoxyphenol, which were formed in the smoking process. PCA analysis showed that a positive correlation was found between the content of phenol and hydrocarbons, alcohols, ketones, esters and lactones, and terpenes, aromatic hydrocarbons and acids. Phenols as the most represented group of volatile compounds was characteristic for the leg sample (83.03%).