The dried stigmas of Crocus sativus, known as “Red Gold,” are highly prized for their nutritional and medicinal qualities. These qualities are due to the presence of apocarotenoids such as crocin, crocetin, safranal, and picrocrocin. The concentrations of biomolecules in saffron play a crucial role in determining its quality and commercial value. Ensuring the purity of saffron biomolecules is crucial for their pharmaceutical and food applications, given their significant potential in these fields. Enhancing cultivation practices and harnessing biosynthesis pathways through genetic engineering are widely used methods to boost the production of saffron biomolecules. Nevertheless, achieving optimal purity and output from the final products necessitates the implementation of efficient extraction methods. Additionally, employing effective identification methods is crucial for attaining accuracy in estimating the quality and quantity of these biomolecules. Hence, understanding the biosynthesis, extraction, and identification methods of saffron biomolecules, along with their significant role in human health and food, holds great importance. There is a need for extensive research to enhance the quality of components used in the food and pharmaceutical industries, surpassing the current studies. Thus, this review provides an overview of saffron biomolecules, including crocin, crocetin, safranal, and picrocrocin, along with their properties, biosynthesis, and regulation. Furthermore, the paper delves into the various aspects of saffron biomolecules, including sample preparation, extraction, identification, and quantification. In addition, the paper highlighted the possible health advantages and food uses of saffron biomolecules, as well as detailed information on the role of artificial intelligence have been discussed as a cutting-edge tool for studying various aspects of saffron biomolecules. Furthermore, the study has emphasized the future potential and opportunities for further research on saffron and its biomolecules, which can pique the interest of researchers, scientists, and industrial people seeking new and innovative opportunities.