In this study, tracing analysis of the change in microbes and physiochemical indexes in the fermentation process of Taorong Baijiu was performed. The results showed that, yeasts, bacteria and mold in aroma-producing fermented grains multiplied rapidly af-ter pit entry due to the large amount of reducing sugar provided by saccharifying fermented grains, then the content of starch and re-ducing sugar dropped rapidly;the amount of mold and yeasts reached the maximum at the third and the fifth day of the fermentation respectively, and bacteria amount presented two peaks in the whole fermentation process; the content of ethanol increased rapidly from the third day to the ninth day of the fermentation and such period was considered as alcohol fermentation period;the acidity in-creased rapidly from the seventh day to the nineteenth day of the fermentation and such period was considered as acid-producing peri-od;and 19 d after the fermentation, it was the mutual transformation stage of aroma-producing substances.