Cashew (Anacardium occidentale L.) remained underexploited in Bangladesh, though it is a vital crop in many countries. This study was conducted to reveal the present scenario, explore the prospects, and identify the problems of cashew cultivation in Bangladesh. Data were collected from randomly selected 63 cashew-producing farmers from three hilly districts, Rangamati, Bandarban and Khagrachhari, under the Chittagong division of Bangladesh, using a structured interview schedule from February to April 2019. The majority of the farmers (65.1%) owned medium-size farms (1.01-3ha) and about half of them (46.0%) belonged to the higher annual income (>1,50,000 BDT; equivalent to 1,750.55 USD) group. The cashew yield was medium (1.40 to 1.80t ha-1) and an individual tree yield ranged from 3 to 8 kg with an average of 6.24 kg. More than two-thirds (68.3%) of the farmers earned 1,20,001-1,80,000 BDT ha-1 from cashew cultivation with an average of 1,68,000 BDT (equivalent to 1,960.62 USD). An average of 0.89 ha of land could still be taken under cashew cultivation. The net profit potential of 8,34,242 BDT ha-1 (equivalent to 9,706.69 USD) is possible from cashew cultivation which is much higher than other crops. The farmers confronted low (79.4%) to medium (20.6%) problems and among the 16 identified problems, ‘lack of processing for nut and apple’ was the most serious severe problem, followed by ‘lack of quality seeds or seedlings. The findings suggest that the government should take initiatives to overcome the prevailing problems regarding cashew cultivation.