This study examined the effect of co-inoculation of yeast and lactic acid bacteria (LAB) on the chemical and sensory characteristics of cherry wines, in comparison with a traditional sequential culture. Three LABs were investigated, including two O. oeni (SG26 and Viniflora) and one L. plantarum (PL18). All co-inoculations significantly shortened the fermentation time (average 8 days earlier) to reach a stable level of residual sugar (<2 g L−1) and L-malic acid (<0.5 g L−1), and no inhibitory effect on the yeast proliferation was observed. For volatiles determined, co-culture with SG26 produced the greatest amount of volatile components (138.5 mg L−1), whereas sequential inoculation with PL18 had the lowest level (119.6 mg L−1). PCA result revealed that different LABs had diverse influences on the volatile profile of cherry wines, and sensory analysis confirmed that these samples presented distinct sensory profiles, and particularly, a stronger note of fruity was perceived when co-culture was used.