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Aged tequilas, often referred to as "añejo" tequilas, typically exhibit flavor characteristics that develop during the aging process in wooden barrels. This maturation imparts distinct flavors, primarily due to the interaction between the spirit and the wood. Caramel and vanilla notes are common results of this aging, as the wood releases compounds that contribute to these flavors.

The barrels used for aging can often be made of American or French oak, which are known for imparting sweet, creamy, and smooth characteristics to spirits. Therefore, the presence of caramel and vanilla in aged tequilas is a reflection of this wood influence.

In contrast, strongly minty flavors are not typically associated with aged tequilas; those flavors might be more prevalent in very young tequilas or other types of spirits. Heavy citrus overtones can also be found in younger, unaged tequilas but tend to diminish as the spirit matures. Pure agave sweetness can be present in all types of tequila, but it is the aged tequilas that prominently showcase the layered complexity of caramel and vanilla due to their time spent in barrels.