This study was conducted to investigate the carcass traits, meat quality, and volatile compounds of growing lambs under different restricted grazing time and indoor supplementary feeding systems. Fifty 3-month-old male Tan lambs (with similar body weight) were divided into five groups randomly according to grazing time 12 h/d (G12), 8 h/d(G8), 4 h/d(G4), 2 h/d (G2), and 0 h (G0, indoor supplementary feeding). Animals were slaughtered at the end of the experiment, and the longissimus thoracis (LT) samples were collected for further analysis. The results indicated that indoor supplementary feeding improved the percentages of carcass fat and non-carcass fat of pre-slaughter weight (PSW) and decreased the cooking loss of lamb meat. Grazing for 8 h/d or 2 h/d enhanced PSW, carcass, and meat percentages of PSW. Lambs grazing for 2 h/d with supplement and indoor supplementary feeding lambs had a higher level of intramuscular fat and lightness (L*) value and lower cooking loss in the LT muscle, but higher yellowness (b*) and fat content were found in indoor supplementary feeding lambs. More categories of volatile compounds were identified in meat from grazing lambs than from indoor supplementary feeding lambs, but lower content of aldehydes and total volatile flavor compounds was detected in grazing lambs. Overall, the results demonstrated that the feeding system is a main factor that affects lamb meat quality, and proper grazing time can improve the quantity and quality of lamb meat and provide meat with different flavors to the consumers.