The objectives of this study were to identify appropriate manufacturing conditions and determine the shelf-life of cold-stored jeonbokjang, and to study the functional properties of oriental herbal jeonbokjang. Blanching abalone at $100^{circ}C$ for 1 min produced the highest sensory scores, and the optimum formulation of jeonbokjang sauce was 49.56% water and 18.62% starch syrup along with other fixed ingredients. During the storage time of 4 weeks at $5^{circ}C$, the texture of jeonbokjang became firmer, and salinity, total acidity, and L value decreased, whereas pH, volatile basic nitrogen (VBN), and the number of microorganisms increased. The storage experiment indicated that the shelf-life of cold-stored jeonbokjang was 3 weeks at $5^{circ}C$. Another optimum formulation for oriental herbal jeonbokjang was identified using optimizing technique; 50% water, 12.5% starch syrup, and 8.33% oriental herbs. Oriental herbal jeonbokjang (100 g) had 122.44 mg vitamin C equivalent (VCE) of antioxidant capacity and 140.89 mg garlic acid equivalent (GAE) of total phenolics.