In-bag dry-aged lean beef was produced using a stepwise ageing process. Lean bull beef striploins were dry-aged at 2°C, 75% RH under three different air velocities: 0.5, 1.5, and 2.5 m·s−1 for 7 days followed by wet-ageing for 14 days. The quality and acceptability of the dry-aged beef were compared with equivalent beef dry-aged for 21 days at 0.5 m·s−1 which served as a control. Two portions of the dry-aged beef (7/21 days) were randomly selected and held frozen at −18°C for 12 months. Shear force, drip, and cook loss decreased significantly (p<0.05) with dry-ageing time. Increased air velocities accelerated dehydration process with no negative impact on the meat quality, microbiological safety, and consumer acceptability compared to the control (p>0.05). Frozen storage for 12 months had little or no effect on the quality and acceptability of the dry-aged lean beef (p>0.05). Dry-aged lean beef of equivalent quality and palatability, with a lower level of surface microorganisms and higher yield compared to the control, could be produced using the stepwise ageing process.