Aquaculture is playing a leading role in both meeting the growing demand for seafood and increasing the sustainability of the fish production sector. Thus, innovative technologies that improve its sustainability, competitiveness, and safety are necessary for growth in the sector. This study aimed to develop cold smoked sea bass fillets from aquaculture. The aptitude of frozen and fresh fillets for cold smoking was investigated by processing both fresh and thawed fillets kept previously at −20 °C for 15, 30, 60, and 90 days. Moreover, to develop a low-salt product, fillets were immersed in low-sodium or standard brine. Sensory, biochemical, and physical-chemical analyses were performed on both the raw fillets and the smoked fillets during vacuum packaged storage for 35 days at 1 ± 0.5 °C. Young modulus values, representative of texture and sensory evaluation, showed that the quality of fresh fillets was better compared to the thawed ones, thus affecting the quality of the final product as the correlation between parameters showed (principal component analysis). Cold smoking was effective in both maintaining the total volatile basic nitrogen (TVB-N) below the threshold for spoilage and preventing lipid peroxidation. Moreover, partial sodium replacement by potassium did not alter the sensory attributes of smoked fillets, which maintained high scores up to 21 days.