The present invention provides a cheese flavor composition and a process for preparing a cheese flavor composition comprising the steps of (a) contacting a protein containing dairy product with a lactic acid culture to form a reaction mixture at a temperature of about 25 to about 45° C. for about 8 to about 72 hours to provide peptides and free amino acids and, (b) contacting the peptides and free amino acids within the reaction mixture with amino acid oxidase to deaminated the peptides and free amino acids to provide α-keto acids, wherein the α-keto acids are further metabolized within the reaction mixture to provide flavor compounds. The present invention also provides a food product comprising the cheese flavor composition.