Canagliflozin is prescribed with proper diet and exercise for the treatment of type 2 diabetes mellites. In this work, simple and sensitive synchronous fluorescence spectroscopic method coupled with the first derivative was proposed for the quantitative determination of canagliflozin in the presence of its oxidative degradation product. Canagliflozin and its oxidative degradation product have native fluorescence at 353 nm and 364 nm after excitation at 294 nm and 289 nm, respectively. The application of synchronous fluorescence mode gave a sharp peak but failed to resolve canagliflozin and its potential toxic degradation product. First-order derivatization of synchronous spectra resolved the overlap and allowed the determination of canagliflozin in the presence of its oxidative degradation product at 324 nm using Δλ = 20 nm. The method showed linearity with excellent correlation in the concentration range of 1–20 μg/mL for canagliflozin. The method was successfully applied for the determination of canagliflozin in pharmaceutical formulation and laboratory-prepared mixtures with mean percent recovery of 99.95 ± 1.14 and 99.81 ± 1.06, respectively. The greenness of the proposed method was assessed and approved by different tools such as analytical eco-scale, green analytical procedure index GAPI and AGREE.