Caodaists believe that there is only one God, the same one who created all the major religions of the world such as Christianity, Islam, Hinduism, Buddhism, Taoism, Confucianism, and Spiritualism.

Adherents engage in ethical practices such as prayer, veneration of ancestors, nonviolence, and vegetarianism with the goal of, minimally, obtaining a favorable rebirth, or, better yet, entering heaven, or, ultimately, escape from the cycle of birth and death. Three Saints revered in Cao Dai are Sun Yat Sen (1866-1925), Victor Hugo (1802-1885), and Nguyen Binh Khiem (1492-1587). They are depicted in a painting, signing a covenant with God. It is absurd that some websites listed other historical figures, including Lenin, as Caodai saints.

God is symbolized by the Divine Eye, specifically the left eye.

The faith has a hierarchical organization resembling that of the Roman Catholic Church, with a pope, cardinals, bishops, and priests. Ordained women may attain ranks up to cardinal.

The religion is notable in that its teachings, symbolism and organization were communicated directly from God. Even the construction of the Tay Ninh Holy See had divine guidance.

Cao Dai currently has an estimated seven to eight million adherents in Vietnam, and an additional 30,000 (primarily ethnic Vietnamese) in the United States, Europe, and Australia.