This disclosure relates generally to extraction of cause-effect relation from domain specific text. Cause-effect relation highlights causal relationship among various entities, concepts and processes in a domain specific text. Conventional state-of-the-art methods use named entity recognition for extraction of cause-effect (CE) relation which does not give precise results. Embodiments of the present disclosure provide a knowledge-based approach for automatic extraction of CE relations from domain specific text. The present disclosure method is a combination of an unsupervised machine learning technique to discover causal triggers and a set of high-precision linguistic rules to identify cause/effect arguments of these causal triggers. The method extracts the CE relation in the form of a triplet comprising a causal trigger, a cause phrase and an effect phrase identified from the domain specific text. The disclosed method is used for extracting CE relations in biomedical text.