The influence of regular air cold storage (7 °C and 85 ± 5% RH) followed by ripening at shelf-life conditions (19–21 °C and 65 ± 5% RH), on bioactive compounds of Hass avocados was investigated. Results showed that the content of mannoheptulose and perseitol decreased significantly already during cold storage and ripening period. The fatty acid profile and contents of tocopherols (α- and β-tocopherol) and phytosterols (β-sitosterol, stigmasterol, campesterol) remained unchanged from day 0 to edible ripeness. Total phenolics, hydrophilic and lipophilic antioxidant capacity remained unchanged during cold storage and increased during the ripening period. At edible ripeness, significant amounts of phenolic acids, p-coumaric and caffeic and their derivatives were synthesised. Our results demonstrated that regular air cold storage for up to 37 days followed by ripening at shelf-life conditions enhances the phenolic compounds and mainly the hydrophilic antioxidant capacity without affecting the remaining bioactive compounds in Hass avocado.