Truffles are among the most expensive foods and their quality depends on their unique aroma, composed of complex mixtures of lipophilic volatile organic compounds (VOCs). There are many foods flavored with truffle, and oils are particularly common. Using DHS–GC–MS and an electronic nose (MOS), 18 samples of olive oil flavored with white and black truffles from the Italian market were subjected to a blind analysis. Qualitative and quantitative analysis with DHS–GC–MS detected the presence of 63 VOCs, 32 of which can be attributed to olive oil, also defective, and 19 to truffles, while 12 foreign compounds are of dubious origin (synthesis and/or demolition). The data obtained with the electronic nose (MOS), processed statistically, was able to discriminate the aromas coincident with the three species of truffle declared on the label (the white truffle Tuber magnatum and the black truffles Tuber melanosporum and Tuber aestivum), demonstrating the potential and reliability of this technique, confirming the established malpractice of the use of bismethyl(dithio)methane in black truffles flavorings