Cannabis (Cannabis sativaL.) is an ancient cultivated plant that contains less than 0.3% tetrahydrocannabinol (THC). It is widely utilized at home and abroad and is an economic crop with great development and utilization value. There are 31 countries legalizing industrial cannabis cultivation. Cannabis fiber has been used for textile production in China for 6000 years. China is the largest producer and exporter of cannabis. China may still play a leading role in the production of cannabis fiber. China has a long history of cannabis cultivation and rich germplasm resources. Yunnan, Heilongjiang, and Jilin are three Chinese provinces where industrial cannabis can be grown legally. Cannabinoids are terpenoid phenolic compounds produced during the growth, and which development of cannabis and are found in the glandular hairs of female flowers at anthesis. They are the active chemical components in the cannabis plant and the main components of cannabis that exert pharmacological activity. At the same time, research in China on the use of cannabis in the food industry has shown that industrial cannabis oil contains 13–20% oleic acid, 40–60% omega-6 linoleic acid, and 15–30% omega-3 α-linolenic acid. At present, more than 100 cannabinoids have been identified and analyzed in China, among which phenolic compounds are the main research objects. For instance, phenolic substances represented by cannabidiol (CBD) have rich pharmacological effects. There are still relatively little research on cannabinoids, and a comprehensive introduction to research progress in this area is needed. This paper reviews domestic and foreign research progress on cannabinoids in cannabis sativa, which is expected to support cannabis-related research and development.