Coleus scutellarioides (L.) Benth. is a globally spread species, known for its characteristic spectacularly colorful leaves of decorative value. Thanks to its rich chemical composition, the plant is used in ethnopharmacology, and it is also regarded as having high medicinal potential. The application of in vitro cultures enables the acquisition of homogeneous certified material of high quality. Additionally, excluding the effect of biotic and abiotic factors on the plants is a way to fully recognize the influence of phytohormones on the plant morphology and the biosynthetic pathways of compound production. The best way to grow C. scutellarioides “Electric Lime” under in vitro conditions is to use the basic MS medium (Murashige and Skoog medium), enriched with naphthyl-1-acetic acid at a concentration of 0.5 mg dm−3. The analysis of volatile compounds demonstrated that the content of volatile compounds in the plants cultivated under in vivo conditions was expressed at a level of 2848.59 µg g−1, whereas in the plants bred in vitro without supplementation with phytohormones, the level was 8191.47 µg g−1. The highest content was noted for copaene, α-pinene, 1-octene-3-ol, α-selinene, sabinen, γ- and δ-cadinene, 3-octanol, and β-pinene. Aroma profiling revealed a lack of boranyl acetate, 2-hexenal, and 2-hexen-1-ol in the plants cultivated under in vivo conditions. Differences were found in the volatile composition between plants bred in vivo and in vitro, with the most significant recorded for the contents of 1-octen-3-ol and 3-octanol. The addition of plant growth regulators into the basic medium under in vitro conditions affected the percentage ratio and contents of specific compounds in plant tissues. The most intense biosynthesis of volatile compounds took place in the plants cultivated on the medium enriched with NAA at 10,579.11 µg g−1, whereas the least intense was noted for plants cultivated on the medium supplemented with BA, where it was recorded at the level of 5610.02 µg g−1. So far, there has been no research published which would pertain to the profiling of volatile compounds performed using the SPME (solid-phase microextraction) technique. Moreover, the very few studies conducted on the chemical composition of these compounds do not mention the specific variety of C. scutellarioides under analysis.