Canopy volume is a crucial biological parameter for assessing tree growth, accurately estimating forest Above-Ground Biomass (AGB), and evaluating ecosystem stability. Airborne Laser Scanning (ALS) and Terrestrial Laser Scanning (TLS) are advanced precision mapping technologies that capture highly accurate point clouds for forest digitization studies. Despite advances in calculating canopy volume, challenges remain in accurately extracting the canopy and removing gaps. This study proposes a canopy volume extraction method based on an improved PointNeXt model, fusing ALS and TLS point cloud data. In this work, improved PointNeXt is first utilized to extract the canopy, enhancing extraction accuracy and mitigating under-segmentation and over-segmentation issues. To effectively calculate canopy volume, the canopy is divided into multiple levels, each projected into the xOy plane. Then, an improved Mean Shift algorithm, combined with KdTree, is employed to remove gaps and obtain parts of the real canopy. Subsequently, a convex hull algorithm is utilized to calculate the area of each part, and the sum of the areas of all parts multiplied by their heights yields the canopy volume. The proposed method’s performance is tested on a dataset comprising poplar, willow, and cherry trees. As a result, the improved PointNeXt model achieves a mean intersection over union (mIoU) of 98.19% on the test set, outperforming the original PointNeXt by 1%. Regarding canopy volume, the algorithm’s Root Mean Square Error (RMSE) is 0.18 m³, and a high correlation is observed between predicted canopy volumes, with an R-Square (R²) value of 0.92. Therefore, the proposed method effectively and efficiently acquires canopy volume, providing a stable and accurate technical reference for forest biomass statistics.