In this study, the antioxidant and chemosensory properties of rice bran were evaluated under different oven-roasting temperatures (160 °C, 180 °C, and 200 °C) and durations (5 min, 10 min, and 15 min). The γ-oryzanol and total phenolic contents initially increased in raw rice bran but decreased with increasing roasting levels, whereas total flavonoid content initially decreased and then increased. 2,2-Diphenyl-1-picrylhydrazyl (DPPH) radical scavenging activity exhibited a decreasing trend. Electronic tongue (E-tongue) analysis revealed that sweetness was decreased and bitterness was increased as accelerated roasting times and temperatures. Electronic nose (E-nose) analysis confirmed that the generation of vanillin was identified during roasting, which contributed to a vanilla-like odor. The roasting conditions enhanced γ-oryzanol contents while improving flavor were 200 °C for 5 min, 180 °C for 5 min or 10 min, and 160 °C for 5 min or 10 min. These findings provide fundamental insights into the potential use of rice bran by-products as food ingredients.