The invention relates to a beverage having an improved flavor. Specifically, the present invention pertains to a beverage having improved flavor comprising an aqueous medium extract of a hop oxidation-reaction product, wherein the total content of tricycloxyisocohumulone, tricycloxyisohumulone, and tricycloxyisoadhumulone in the beverage is from 0.00825 to 44 ppm, and wherein a proportion of a peak area of iso α acid, α acid and β acid to a total peak area (mAU·min) of all the peaks of the hop oxidation-reaction product as determined by HPLC analysis is 20% or less, and wherein the aqueous medium extract is subjected to an odor removal treatment.
