Canola, Brassica napus L., is a major oilseed crop that has various uses in the food, feed, and industrial sectors. It is one of the most widely produced and consumed oilseeds in the world because of its high oil content and favorable fatty acid composition. Canola grains and their derived products, such as canola oil, meal, flour, and bakery products, have a high potential for food applications as they offer various nutritional and functional benefits. However, they are affected by various factors during the production cycle, post-harvest processing, and storage. These factors may compromise their quality and quantity by affecting their chemical composition, physical properties, functional characteristics, and sensory attributes. Therefore, it is important to optimize the production and processing methods of canola grains and their derived products to ensure their safety, stability, and suitability for different food applications. This literature review provides a comprehensive overview of how these factors affect the quality of canola grains and their derived products. The review also suggests future research needs and challenges for enhancing canola quality and its utilization in food.