Cocoa pulp represents an interesting by-product of cocoa production, with an appealing flavor. We developed a non-alcoholic beverage via the submerged fermentation of 10% pasteurized cocoa pulp in water with Laetiporus persicinus for 48 h; the product was characterized by tropical fruity notes such as coconut, mango, passion fruit and peach. The overall acceptance of the beverage compared to the non-fermented medium, as rated by a panel, increased from 2.9 to 3.7 (out of 5.0 points) for odor and from 2.1 to 4.2 for taste. (R)-Linalool (flowery, fruity), methyl benzoate (green, sweet), 2-phenylethanol (rose, sweet), 5-butyl-2(5H)-furanone (coconut, peach) and (E)-nerolidol (flowery, woody) contributed to the overall aroma with odor activity values of >1. During aroma dilution analysis, further substances with coconut, passion fruit and peach-like notes were perceived and structurally assigned to the group of sesquiterpenoids. The fermentation generated a highly interesting beverage using only 10% of the valuable cocoa pulp. The aroma formation via the fungus L. persicinus on cocoa pulp is of great interest for further research as an example of the formation of substances not yet described in the literature.