Abstract: Provided herein are non-toxic parenteral pharmaceutical formulations comprising at least one cannabinoid, typically cannabinol. The cannabinoids can be from plant sources or synthetically prepared. Methods for preparing such formulations and methods for using such formulations are also disclosed. Such methods of use include, without limitation, intravenous administration of the present formulations for the treatment of peri-operative pain. The present formulations may provide potential a replacement of, or adjuvant for dosage reduction, of opioids for acute and chronic pain management.