Low temperatures are an effective way of delaying grain rancidity and deterioration. However, little is known about the difference in quality changes in high-moisture japonica brown rice at different storage temperatures. In this study, the storage quality changes in japonica brown rice with a 15.50% moisture content stored at 15 °C, 20 °C, and 25 °C were investigated. In addition, an untargeted lipidomics analysis coupled with gas chromatography and mass spectrometry (GC-MS) was applied to analyze the volatile compounds and metabolite changes in the high-moisture japonica brown rice. The results showed that storage at 15 °C could well maintain the color and aroma stability of the brown rice and delay the increase in fatty acid value (FAV). The lipidomics results showed that storage at 15 °C delayed glycerolipid and sphingolipid metabolism and reduced glycerophospholipid catabolism in the brown rice. The low-temperature environment regulated these three metabolic pathways to maintain higher contents of triglycerides (TG), phosphatidylserine (PS), abd phosphatidylethanolamine (PE), and lower contents of diglycerides (DG), OAcyl-(gamma-hydroxy) FA (OAHFA), ceramides (Cer), and glycosylceramides (Hex1Cer) in the high-moisture japonica brown rice, which maintained the storage stability of the brown rice. Our results proposed the cryoprotection mechanism of postharvest brown rice from the perspective of volatile compounds and metabolite changes, providing a foothold for the further exploration of low-temperature storage as a safe and efficient cryoprotectant in the grain storage field.