Magnetic behaviors of the Ising system with bilayer honeycomb lattice (BHL) structure are studied by using the effective-field theory (EFT) with correlations. The effects of the interaction parameters on the magnetic properties of the system such as the hysteresis and compensation behaviors as well as phase diagrams are investigated. Moreover, when the hysteresis behaviors of the system are examined, single and double hysteresis loops are observed for various values of the interaction parameters. We obtain the L-, Q-, P-, and S-type compensation behaviors in the system. We also observe that the phase diagrams only exhibit the second-order phase transition. Hence, the system does not show the tricritical point (TCP).