The directional regulation of cereal flavor is a core issue in the field of food processing and one of the key factors affecting food quality. The formation and release of the characteristic flavor substances of cereals are influenced by processing conditions. This paper systematically reviews the generation mechanisms and release patterns of the characteristic flavor compounds (volatile and non-volatile compounds) of cereals subjected to six traditional processing technologies, including milling, fermentation, and baking. It also explains the interaction mechanisms of protein, starch and lipid precursors through pathways such as the Maillard reaction and oxidative degradation. Special emphasis is placed on the latest progress in the application of gas chromatography-mass spectrometry (GC-MS), liquid chromatography-mass spectrometry (LC-MS), electronic nose/electronic tongue, molecular sensory omics, and artificial intelligence in flavor analysis. These techniques provide analytical tools for exploring the intrinsic relationship between processing conditions and changes in flavor substances. Meanwhile, construction of a systematic research framework of “processing-precursor-flavor” and introduction of artificial intelligence based on flavor analysis technologies to achieve the prediction and regulation of flavor can help with the directional regulation of the generation, transformation, and release of flavor components under different processing conditions. In the future, focus should be placed on the integration of low-energy-consuming processing technologies and precise flavor models, so as to provide a theoretical basis for the development of cereal products with the synergistic advantages of “flavor- nutrition-health”.