The aim of this study was to explore the impact of aqueous ozone technology on maintaining grapefruit flavor and freshness by minimizing the occurrence of postharvest deterioration. During the 2018 and 2019 seasons, Star Ruby grapefruit fruits were treated with 0.3 and 0.6 ppm aqueous ozone for 5 and 10 min after harvest at water temperatures of 5 °C and 15 °C, respectively. The fruits were stored for 40 days at 8 ± 1 °C with 85–90% relative humidity. The results revealed that all the ozonated water treatments reduced physiological weight loss, disease infection, and decay, as well as providing long-term protection to the fruits throughout storage. The best treatment for preserving the postharvest quality was 0.6 ppm ozonated water at 5 °C for 5 min, which successfully delayed ripening while concurrently preserving the TSS/acid ratios, total phenolics, and antioxidant activity. Overall, aqueous ozone treatment is a promising example of a treatment that is beginning to be utilized on a commercial scale. In accordance with the findings of this study, it can be deduced that aqueous ozone can be used to maintain fruit quality, reduce postharvest diseases, and extend storage life.