In the present study elimination of chemical colorings in the alcoholic beverages produced by extraction of citron (Citrus medica) fruits and leaves as an alternative to the distillation method, which is currently used in industrial practice and requires addition of synthetic additives, was examined. Additionally, the volatile compounds of citron alcoholic beverages produced by both methods in association with potential antioxidant and anticancer properties were investigated. The results showed that no addition of artificial pigments was required in the novel citron beverages, as color intensity was similar to the commercial products. The most important compounds identified by solid phase microextraction and gas chromatography/mass spectrometry analysis were esters, alcohols, carbonyl compounds, acetals and terpenes. Although all products contained significant amounts of terpenes, which have been proposed as efficient antioxidant and anticancer agents, the highest concentration was determined in the alcoholic beverage produced by 4-fold extraction of citron leaves. Principal component analysis indicated that the production method affected significantly the volatile composition of the products. Finally, the potential of novel functional alcoholic beverages in promotion of human health is highlighted and assessed.