Quality changes of Greek avgotaracho were assessed over a 4-month storage period at 3.0 ± 1.0 ºC, by lipid, fatty acid and carotenoid profile analysis, assays of thiobarbituric acid-reactive substances (TBA-RS), colour measurements (CIE L*a*b*) and determinations of total volatile bases (TVB). The major lipid classes in freshly prepared avgotaracho were neutral lipids (NL), mainly triglycerides (TG), followed by cholesterol. Polar lipids (PL) consisted mainly of phosphatidylcholine (PC), followed by sphingomyelin (Sphm) and phosphatidylethanolamine (PE). Cold storage did not significantly affect the individual lipid classes’ content. The minor amounts of free fatty acids and monoglycerides released over the storage period suggested slow TG and PhL hydrolysis. GC-FID analysis of the lipid revealed the presence of 37 fatty acids (FA). Heptadecanoic acid (C17:0) was the main saturated fatty acid (SFA), followed by palmitic acid (C16:0), while palmitoleic (C16:1ω-9), oleic (C18:1ω-9) and vaccenic (C18:1ω-7) were the major monounsaturated fatty acids (MUFA). Polyunsaturated fatty acids (PUFA) occurred in the lowest concentration and consisted mainly of DHA (C22:6ω-3) and EPA (C20:5ω-3). An increase in SFA content and a decrease in PUFA, especially ω-3 fatty acids, was observed during storage. PUFA/SFA, MUFA/SFA and ω-3/ω-6 ratios gradually decreased in the stored product. However, oxidative changes were rather limited, as judged by the slow increase in TBA-RS levels. HPLC-DAD analysis of the carotenoids showed that -cryptoxanthin predominated, followed by all-trans lutein, all-trans canthaxanthin, -cryptoxanthin and all-trans zeaxanthin. Carotenoid profile was not affected by storage. Nevertheless, a significant decrease in individual carotenoid compounds was observed in the stored product. CIE L*a*b* coordinates varied considerably between samples, probably reflecting differences in roe maturation. The high levels of volatile basic nitrogen (up to 133.98 mg/100 g) observed after 4 months of storage are in accordance with previous results in this field of study and appear to be associated with autolytic and microbial activities during the ripening process.