The best and easiest way to level your hunter up efficiently is by going to Iarn's Lair in Iarnwood. When you enter the dungeon, don't jump down. If you look down you will see many Cadbys. Stand on the right edge of the cliff and begin shooting! Their pathfinding seems horrible, if you stand on the left side they can climb up the vine, but if you just overlook the right edge they won't do anything but move back and forth.
If you wipe the cadbys down there and want to continue, jump down. Look into the right tunnel and begin pulling. The monsters in there will not leave the tunnel, they will reach the entrence and run back in cowardly, allowing you to kill them without being injured.
If you are tired of those, go to the north tunnel. If you stand on the rock to the right and jump and shoot, you can also kill them very easily without them coming after you.
Very efficient way to level up, alot of xp, no risk of dieing. Just bring alot of arrows!!