The "emerald" cut of diamond is another square or rectangular shaped diamond. As opposed to the brilliant cut, however, with its triangular or four sided diamond cut facets, the "emerald" cut of diamond has step cut facets. The term "step cut" refers to the step-like look of the facet cuts.

This type of facet appears in long plate or plane-like facets, resulting in a more mirrored-type of effect, rather than the deep fire or shining brilliance of other diamond shapes. The emerald requires a diamond of higher quality of color and clarity than required with other shapes. This is due to the fact that scratches, inclusions and other impurities are more easily noticed with this bold type of cut. The emerald cut of diamond has an elegance and old world charm not found in brilliant styles.

It tends to have 50 to 58 facets, and a length to width ratio of 1.5-1.7 to 1. As with other square and rectangular shapes, the Emerald cut shape can be cut to be more square, to flatter the longer fingers, or more rectangular, thus flattering shorter fingers with the appearance of greater length. It tends to be 20% to 33% less expensive than round brilliants of the same weight, as is also the case with other square or rectangular shaped diamonds. The Emerald cut shape of diamond is linked to organized, resourceful, disciplined and decisive personalities.