You will need to pass value in key as a different prop.

From docs:

Keys serve as a hint to React but they don’t get passed to your components. If you need the same value in your component, pass it explicitly as a prop with a different name:

Read: https://reactjs.org/docs/lists-and-keys.html

Passing key as a prop works obviously, but much quicker way could be to include the key as a custom attribute in your html.

class App extends React.Component {
  constructor(props) {
    super(props);
    this.onSelect = this.onSelect.bind(this);
  }
  onSelect(event) {
    const selectedIndex = event.target.options.selectedIndex;
        console.log(event.target.options[selectedIndex].getAttribute('data-key'));
  }

  render() {
    return ( 
      <div>
      <select onChange = {this.onSelect}>
       <option key="1" data-key="1">One</option> 
       <option key="2" data-key="2">Two</option>             </select> 
     </div>
    );
  }
}

ReactDOM.render( < App / > , document.getElementById('root'));

<script src="https://cdnjs.cloudflare.com/ajax/libs/react/15.1.0/react.min.js"></script>
<script src="https://cdnjs.cloudflare.com/ajax/libs/react/15.1.0/react-dom.min.js"></script>
<div id="root"></div>

Imagine a component like this:

<Component data={[{id:'a23fjeZ', name="foo"}, ...]}` 

Which renders a list of inputs, and gets in a data prop which is a collection (Array of Objects):

function Component ( props ){
    // cached handler per unique key. A self-invoked function with a "cache" object
    const onChange = (cache => param => {
        if( !cache[param] )
            cache[param] = e => 
                console.log(param, e.target.name, e.target.value)

        return cache[param];
    }
    )({});

    return props.data.map(item =>
        <input key={item.id} name={item.name} onChange={onChange(item.id)} />
    }

}

As you can see, the key isn't being accessed, but is passed into a currying function which is handling the caching internally, to prevent "endless" creation of functions on re-renders.