Lactobacillus bulgaricus and Angel Yeast was used to produce fermented pork jerky, and a series of indexes were measured. The results demonstrated that the pH of the fermented jerky was lower than the non-fermented jerky; the true protein content of the fermented jerky was lower than that of the non-fermented jerky; the free amino acids content of the fermented jerky was higher than the non-fermented jerky; the acid protease activity was slightly higher than the neutral protease activity in the fermented jerky; four and fifteen volatile compounds were detected for the non-fermented and fermented jerky, respectively. The important compounds affecting the flavor of fermented jerky included DL-Glutamic Acid, Phenylethyl Alcohol, 1-Octen-3-ol, Nonanal, Pentanal, 3-Methyl-Butanal, and 2-Pentyl-Furan. The study results demonstrated that the strains combined with Lactobacillus bulgaricus and Angel Yeast reduced the meat pH, degraded the protein in the meat by the proteases (including acid and neutral proteases) produced during fermentation, and increased the amount of free amino acids and flavored compounds. In these ways, the meat texture and taste were improved, and digestion and absorption were enhanced.