This study was performed to compare fatty acid contents and volatile compounds among quality grades (QG) and to understand association between QG and above parameters in loin and rump of Korean cattle steers. Loin and rump samples were obtained from 48 Korean cattle steers with each of 4 quality grades (QG 1++, 1+, 1, and 2; average 32 mo of age). In loin, oleic acid (C18:1n9) contents were highest (P < 0.05) in QG 1++ and lowest in QG 2. Linoleic acid (C18:2n6), eicosapentaenoic acid (C20:5: EPA), and polyunsaturated acid (PUFA) contents were lowest (P < 0.05) in QG 1++ and highest in QG 2. Palmitic acid, stearic acid, oleic acid, SFA, and MUFA contents were higher (P < 0.05) in loin than in rump. In loin, major fatty acid contents per meat, including palmitic acid (C16:0), oleic acid and saturated fatty acid (SFA) and USFA, were highest (P < 0.05) in QG 1++ and lowest in QG 2. Marbling score (MS), QG, and overall acceptability of sensory evaluation were positively correlated (r > 0.47, P < 0.05) with oleic acid contents of fat. In contrast, MS, QG, tenderness, juiciness, flavor and overall acceptability were inversely correlated (r < −0.62, P < 0.05) with linoleic acid, EPA, and PUFA contents. MS and QG were positively correlated (r > 0.59, P < 0.001) with most of fatty acid contents per meat, including palmitic acid, stearic acid, oleic acid, SFA and USFA contents. Total 20 volatile compounds, including aldehydes and hydrocarbons, were detected in loin and rump by GC/MS analysis. Few hydrocarbon contents, including n-pentane, n-hexane, and 2-butene, were higher in QGs 1++ and 1+ than in QGs 1 and 2. Other volatile compounds did not show significant patterns among QGs. MS and QG were positively correlated (r > 0.67, P < 0.05) with 2-butene, n-pentane, chloroform, and n-hexane contents. Our results revealed that MS and QG are linked with fatty acid contents such as oleic acid in loin. Among 20 volatile compounds detected, only few compounds were associated with MS and QG.