Acoustic Emission (AE) technique was employed for evaluating charge/discharge damage in a lithium-ion battery. A coin-type battery of lithium cobalt oxide/carbon electrodes was used for acoustic monitoring during accelerated charge/discharge cycle test. A number of AE signals were successfully detected during charge/discharge. Microstructural observation of the electrodes after the cycle test revealed mechanical damage such as micro-cracking of the cathode and chemical damage such as solid electrolyte interphase (SEI) layer formed on the anode. The detected AE signals were classified into two distinct types (i.e., type 1 and type 2) based on the AE waveform parameters (i.e., duration and amplitude). The main frequency component of the type 1 signal with short duration and high amplitude was in the range of 121–160 kHz, whereas the frequency of type 2 signals with long duration and low amplitude was between 81 and 120 kHz. Active AE source of type 1 and type 2 signal was attributed to micro-cracking in cathode and gas bubble accompanied by SEI layer formation on anode, respectively. These results demonstrate the feasibility of the AE technique for the evaluation of charge/discharge degradation of secondary battery.