The selection of base liquor plays a crucial role in the flavor of soaked greengage wine. This study aimed to investigate the effects of different base liquor treatments on the physicochemical characteristics and aroma composition of greengage wine. We carried out a comprehensive analysis using HPLC for the determination of organic acids and GC-MS for the determination of volatile aroma compounds, combined with sensory evaluation. The results showed that the red and yellow colors were the darkest in the high-alcohol group, while the citric acid content was the highest in the sake group (21.95 ± 2.19 g/L). In addition, the greengage wine steeped in 50% edible alcohol had more terpenes, a significantly higher concentration of acid–lipid compounds, and a more intense aroma compared to that of the low-alcohol group, whose typical aroma compounds were greatly reduced. The sensory results showed that the greengage wine treated with baijiu had a distinct alcoholic flavor, while almond flavors were more intense in the greengage wine treated with 15% edible alcohol. In this study, base liquor was used as the main influencing factor to provide new research ideas for the flavor optimization of soaked greengage wine.