What is cannabis oil? Home FAQs What is cannabis oil? Cannabis oil is created by extracting cannabinoids like THC and CBD from cannabis plants to make other forms, such as edibles. The two main active substances in cannabis plants are cannabidiol, or CBD, and delta-9 tetrahydrocannabinol, or THC. Share this on: Asset 1Asset 2Asset 7 Prev FAQ Back to FAQs Next FAQ