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Consumers demand for functional foods and nutraceutical is increasing owing to their health endorsing properties. Natural bioactive compounds are getting attention due to their health promoting potential. In addition, the extraction of these bioactive compounds is a significant industrial and technological perspectives. These bioactive moieties can be extracted via various conventional and modern methods. For instance; solid-phase extraction, solid-phase micro-extraction, and liquid-liquid extraction are considered as traditional/conventional methods. In contrast, modern eco-innovative methods for extraction such as ultrasound-assisted extraction (UAE), microwave-assisted extraction (MAE), pulsed electric field (PEF), supercritical fluid extraction (SFE), instant controlled pressure drop (DIC), etc. are more economical and environment friendly. Additionally, these are ever-increasing demands of energy-efficient methods for the recovery of valuable compounds. Moreover, these methods produced less wastewater and hazardous substances. Conclusively, this review highlighted the conventional and modern extraction technologies and the role of these eco-innovative technologies in achieving the goal of a sustainable food system.