This study investigated effects of ripening on physicochemical, aroma profiles, and microbial succession in Italian-style dry-cured ham (ISDCH). Results showed that moisture content and pH decreased significantly during ripening, while the proteolytic index, cohesiveness, and hardness increased. Seventeen key volatile compounds were identified, with aldehydes dominating early ripening and esters becoming enriched in later stages. High-throughput sequencing showed dynamic microbial shifts, with Staphylococcus and Tetragenococcus emerging as dominant genera at the mid-to-late ripening stages. Sixteen potential biomarkers were identified through random forest analysis. Correlation analysis further indicated that Tetragenococcus was closely associated with ester formation, contributing to enhanced aroma complexity. These results provide new insights into microbial contributions to flavor development in ISDCH and offer guidance for selecting potential starter cultures to improve product quality.