Craven played his junior hockey with his hometown Medicine Hat Tigers, and his success there saw him selected by the Detroit Red Wings with their first-round pick (17th overall) in the 1982 NHL Entry Draft.

He proceeded to make the Wings' NHL squad out of training camp at age 18, and recorded 4 goals and 11 points in 31 games before being returned to Medicine Hat.

On the eve of the 1984–85 season, Craven was dealt to the Philadelphia Flyers as the centrepiece of a deal for aging superstar Darryl Sittler.

The deal proved to be an absolute heist for Philadelphia, as Sittler struggled through one final season before retiring while Craven stepped straight into the Flyers' lineup as one of their top forwards.

He finished the year setting career highs in assists (52) and points (77), and provided an offensive boost to the Canucks, although they were outed in the second round of the playoffs.

Following a poor start (just 2 assists in 19 games) and a hernia surgery, he was released by San Jose midway through the 1999–2000 season, effectively ending his career.