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<i>Cannabis</i> is well-known for its numerous therapeutic activities, as demonstrated in pre-clinical and clinical studies primarily due to its bioactive compounds. The <i>Cannabis</i> industry is rapidly growing; therefore, product development and extraction methods have become crucial aspects of <i>Cannabis</i> research. The evaluation of the current extraction methods implemented in the <i>Cannabis</i> industry and scientific literature to produce consistent, reliable, and potent medicinal <i>Cannabis</i> extracts is prudent. Furthermore, these processes must be subjected to higher levels of scientific stringency, as <i>Cannabis</i> has been increasingly used for various ailments, and the <i>Cannabis</i> industry is receiving acceptance in different countries. We comprehensively analysed the current literature and drew a critical summary of the extraction methods implemented thus far to recover bioactive compounds from medicinal <i>Cannabis</i>. Moreover, this review outlines the major bioactive compounds in <i>Cannabis</i>, discusses critical factors affecting extraction yields, and proposes future considerations for the effective extraction of bioactive compounds from <i>Cannabis</i>. Overall, research on medicinal marijuana is limited, with most reports on the industrial hemp variety of <i>Cannabis</i> or pure isolates. We also propose the development of sustainable <i>Cannabis</i> extraction methods through the implementation of mathematical prediction models in future studies.