Plum (Prunus salicina Lindl.) is an important stone fruit crop in Sichuan that is increasingly in demand by consumers owing to its flavor and outstanding nutraceutical properties. The physicochemical characteristics, antioxidant capacity, and volatile profiles of five traditional and new plum cultivars in Sichuan were determined using high-performance liquid chromatography and gas chromatography time-of-flight mass spectrometry. The results showed that all plums exhibited an appropriate quality profile for fresh consumption; the new cultivar ‘ZH’ exhibited the highest soluble solids content, sugar–acid ratio, total phenolic content, total flavonoid content, and antioxidant capacity. High sugar–low acid properties were observed in five plum cultivars. Sucrose was the main sugar, while quinic acid and malic acid were the main organic acids. The plums were rich in volatile compounds and had specific volatile characteristics. A total of 737 volatiles were identified in the plum fruit, and orthogonal partial least-squares discriminant analysis was employed to screen 40 differential volatiles as markers for cultivar distinction. These findings offer comprehensive information on the physicochemical characteristics, antioxidant capacity, and volatile profiles of plums.