In this study, we evaluated whether formulated depuration diets can modulate the nutritional quality, chemical safety, and volatile profile of Protaetia brevitarsis larvae. Late third-instar larvae were provided with glutinous rice powder (GRP) or one of three formulated diets (FD1-FD3) based on wheat bran, eggshell powder, and brewer’s spent grain for 48 h, followed by 48 h of fasting. Freeze-dried larval powders were analyzed for proximate composition, dietary fiber, fatty acids, minerals, and heavy metals, and volatile profiles were assessed using an electronic nose. Proximate composition, dietary fiber, and carbohydrate showed numerical treatment-dependent variation but no significant differences among groups by Tukey’s HSD test. Oleic acid was the predominant fatty acid, with FD3 forming the highest Tukey group. Calcium and iron were significantly higher in FD1-FD3. Pb was slightly but significantly higher in FD1-FD3 than in GRP, whereas Cd and As did not differ significantly; all measured heavy metals remained low and were below the Korean Food Code limits. Electronic-nose analysis revealed clear diet-dependent differences in volatile patterns: GRP was characterized mainly by butanal, 2,3-pentanedione, heptanal, and butane-2,3-dione, whereas FD2 was more closely associated with propyl propanoate, 2-heptanone, and anethole. These results indicate that diet formulation during depuration can serve as a practical pre-processing strategy to modulate selected nutritional and odor-related quality attributes of edible P. brevitarsis larvae without appreciable heavy-metal contamination.