The aim was to develop and evaluate a Quality Index Method (QIM) scheme for fresh cod fillets. Cod fillets were stored at 0–1 °C on ice up to 14 days. Total viable counts (TVC) and counts of H2S-producing bacteria were done. A QIM scheme for fresh cod fillets to evaluate freshness was proposed. A high correlation between the Quality Index (QI) and storage time on ice was found. The remaining storage time could be estimated with accuracy of ±1.3 days when the cod fillets were evaluated with QIM. The maximum storage time was estimated 8 days based on Quantitative Descriptive Analysis and H2S-producing bacteria counts.