Plant-based seafood analogues have become imperative in today’s world due to an increase in the awareness for environmental sustainability, overfishing and the conservation of the current global seafood stock. The use of plant-based ingredients blended in varying proportions to imitate the proximate composition and structural attributes of a seafood fillet proffers a sustainable solution to these environmental crises. This study addresses the challenges arising from the development of plant-based formulations when compared to the flavour attributes and textural properties of actual seafood. The combination of various plant-based ingredients, including plant protein isolates of Pea (Pisum sativum L.) and Faba bean (Vicia faba), a lipid source rich in poly-unsaturated fatty acids, and a polysaccharide, was all subjected to enzymatic cross-linking by microbial transglutaminase, resulting in a seafood analogue. The addition of Dulse (Palmaria palmata) flakes and a commercial seafood flavour enhanced and promoted the development of seafood flavour compounds in the analogue. The headspace of the plant-based products was evaluated using a GC-O-MS approach to identify the aroma compounds present. The texture and structural attributes were evaluated and compared to a seafood fillet with the aid of a texture analyzer. The results indicate that the use of Pea and Faba protein isolates in the formulation of these products contained pulse-related aroma compounds, while the texture attributes were comparable to the data from seafood. The data from this study provide a formulation for the development and production of a potentially acceptable plant-based seafood product.