In this work results are given for the experimental investigation of the me-chanism of cavitation emulsification by means of high-speed photography. The results show that: 1) Two fundamental types of cavitation emulsification occur simultaneously at the moment of a single cavitation bubble collapse. It thus appears that: emulsifica-tion is induced by the shock waves generated in liquids at the moment of cavitation bubble collapse; 2) In contrast with the "suction" model suggested by Nedouzhii, the process of cavitation emulsification would be better described by a "crushing" model.