The characterization of natural waste sources is the first step on the reutilization process, circular economy, and global sustainability. In this work, the aromatic composition and bioactive compounds related to beneficial health effects from cork stoppers and cork by-products were assessed in order to add value to these wastes. Twenty-three aromatic compounds with industrial interest were quantified by gas chromatography coupled mass spectrometry GC–MS in both samples. Vanillins and volatile phenols were the most abundant aromatic families. Other aromatic compounds, such as aldehydes, lactones, terpenols, and alcohols, were also determined. Furthermore, the phenolic composition and the antioxidant activity were also evaluated. Overall, extracts showed high aromatic and antioxidant potential to be further used in different industrial fields. The recovery of these valuable compounds from cork stoppers and cork by-products helps to reuse them in agricultural, cosmetic, pharmaceutical, or food industries.