The aim of this study was to evaluate the effects of mechanical (pigeage, délestage and remontage) and oxygenation treatments on the phenolic and aromatic compounds and sensory characteristics of Teran wines. The experiment included a 20-day maceration period, during which the above-mentioned treatments were applied, as well as the post-fermentation processes of pressing and first rack. The analysis of phenolic, chromatic and aroma compounds and the sensory characterization of the wines were used to describe the effects of the treatments investigated. After the observed maceration period, remontage resulted in wines with the highest total phenols (2682.0 ± 14.8 mg GAE/L). In contrast, délestage resulted in the lowest total phenols (2499.1 ± 17.6 mg GAE/L) and total anthocyanins (530.1 ± 2.8 mg/L) and had the strongest effects on chromatic characteristics. The post-fermentation processes (pressing, racking) showed similar trends and resulted in higher phenolic concentrations in the remontage wine, while the délestage was again characterized by lower total phenol and anthocyanin concentrations. In addition, the délestage wine contained a higher concentration of almost all analyzed esters and two higher alcohols (2-methylpropan-1-ol and 1-hexanol), while the remontage wine had the highest concentration of 2-phenylethanol and 3-methylbutyl acetate. Finally, maceration proved to be a key factor in defining the wines’ sensory characteristics, with the remontage-treated wine showing the best overall quality.