L-Arabinose is a low-calorie sweetener that inhibits sucrose absorption by inhibiting sucrase activity in the human intestinal tract. Response surface methodology (RSM) was applied to optimize the processing parameters of the L-arabinose/glycine Maillard reaction to improve the browning degree and antioxidant activity of Maillard reaction products (MRPs) through microwave heating. The effect of heating time, volume ratio of propylene glycol to double distilled water (ddH2O), and pH on MRPs was evaluated. A change in the volume ratio of propylene glycol to ddH2O, heating time, and pH was associated with a largely changed browning degree and reducing power of the MRPs. RSM predicated optimum conditions that under substrates of L-arabinose/glycine at a ratio of 2 : 1 (w/w) and concentration of 10% (w/v), a heating time of 7.44 min, volume ratio of propylene glycol to ddH2O 0.93, and pH 10.44 were optimum conditions for the Maillard reaction. The predicted data from the optimum reaction conditions coincided well with the experiment results. The main flavor of MRPs is roasted aroma, and the emulsifying ability of MRPs was 0.367 at 500 nm by microwave heating under the optimal Maillard reaction conditions. MRPs derived from L-arabinose and D-glucose had similar activities. However, a slightly greater activity was found with MRP derived from L-arabinose-glycine with a more volume. This study provided a new direction for the development of sweeteners in the future.