Cordyceps militaris is a medicinal fungus used in traditional medicine to treat fatigue, boost immunity, and fight disease. This comprehensive review explains how different growing conditions—including the type of food (substrate), light exposure, temperature, and nutrient ratios—affect the production of powerful healing compounds like cordycepin and polysaccharides. The review compares growing methods using grains versus insects, showing that insect-based cultivation produces higher concentrations of beneficial compounds. Key recommendations for the future include developing standardized growing protocols and integrating advanced research techniques to scale up production sustainably.