Unlike diamonds, emeralds can be cut to be faceted or unfaceted.

Unfaceted emeralds are called cabochons, a popular form being the sugarloaf carbochon, which has a smooth high-domed table. Translucent emeralds are frequently cut and polished into cabochons. Trapiche emeralds are also cut into cabochons, making exquisite jewelry pieces.

Transparent emeralds are faceted. For faceted diamonds, all different shapes and cutting styles exist. Some of the more popular emerald shapes include square, round, oval, pear-shaped, and heart-shaped.

Emerald is very sensitive to knocks, and the famous emerald cut was developed specifically for this gem to reduce the amount of pressure during cutting.