Cranberry pomace, a byproduct of the juice manufacturing, is a rich source of phenolics, mainly anthocyanins. Anthocyanins and phenolics were removed from cranberry pomace with water, 30–100% ethanol, or 5% citric acid in a pressurized fluid reactor at 40–160 °C and 50 or 200 bar. Total anthocyanin (mg cyanidin 3-glucoside equivalent, Cy3GE), total phenolics (mg gallic acid equivalent, GAE), antioxidant activity (µmol trolox equivalent), and anthocyanin composition (HPLC-UV) of the extracts were determined. Pressurized ethanol (100%) recovered maximum anthocyanins (6.02–8.42 mg Cy3GE d.w.) with insignificant effect of temperature at 40–120 °C/50 bar. Irrespective of the treatment, major anthocyanins were cyanidin 3-galactoside, cyanidin 3-arabinoside, peonidin 3-galactoside, and peonidin 3-arabinoside. Maximum total phenolic content (84.96 ± 7.82 mg GAE d.w.) was obtained with pressurized 30% ethanol at 140 °C/50 bar. Pressurized ethanol showed better Pearson correlation value (P = 0.84) between total anthocyanins and antioxidant capacity compared to pressurized water. Results demonstrate potential of pressurized fluid extraction with ethanol to selectively remove anthocyanins and total phenolics from cranberry pomace.