Abstract: In order to provide theoretical support for high value processing and utilization of velvet antler, the differences of physicochemical indexes in velvet antler products by vacuum freeze-drying and boiled water-drying were studied. Three pairs of fresh velvet antlers, one was processed by vacuum freeze-drying method, the other by boiled water-drying method, and the determination of the two products of moisture, crude protein, crude fat and other nutrients and fatty acids, amino acids, cholesterol and mineral elements in 49 indicators, and principal component analysis and cluster analysis were carried out. The results showed that the contents of fatty acid and amino acid in vacuum freeze-dried antler velvet were significantly higher (P<0.01) than boiled-water dried antler velvet, which were (146.48±10.53) mg/100 g and (34.11±0.98) mg/100 g. While the moisture contents of vacuum freeze-dried antler velvet and boiled-water dried antler velvet were (5.37±0.12) mg/100 g and (11.20±1.11) mg/100 g, with significant difference (P<0.01). In the principal component analysis, the cumulative contribution rate of the first three principal components was 80.87%. The samples of boiled-water dried antler velvet and vacuum freeze-dried antler velvet were obviously separated, which indicated that there were significant differences between the two groups. Cluster analysis clustered 16 components with significant differences into 2 groups, it was found that the indexes of velvet antler after drying were significantly different between the two processing techniques. 8 kinds of fatty acids and 7 kinds of amino acids were abundant in vacuum freeze-dried antler velvet. Multivariate statistical analysis method can more intuitively represent the differences of antler components and their advantages and disadvantages in different processing techniques, and vacuum freeze-drying technology can better retain the active ingredients, and provide a direction for velvet antler processing.