Recently, the disposal of waste oil-in-water cutting emulsion has become an urgent issue because of its extremely high chemical oxygen demand (COD). The present work focuses on treating the waste cutting emulsion generated from the Samsung Thai-Nguyen factory in Vietnam. This work used multistage methods to treat the waste cutting emulsion to meet the wastewater disposal requirement and characterize the oil recovered. The multistage methods consist of the flocculation method (stage 1) and Fenton oxidation (stage 2). The wastewater after stage 1 treatment has a COD reduction efficiency of 98.24% at the condition of pH 5, Al2(SO4)3 2 g/L, C-PAM 12 mg/L, stirring speed 50 rpm, and stirring time 15 minutes. At that condition, the COD value decreased from 147200 mg/L to 2484 mg/L. After stage 2, the COD value further decreased from 2484 mg/L to 85.4 mg/L with total COD removal efficiency increasing to 99.9% at the optimum conditions of pH 3, H2O2 : FeSO4 concentration ratio of 10 : 1, and FeSO4 concentration of 14.04 g/L. After the stage 2 treatment, the wastewater with the COD value of 85.4 mg/L and BOD5 value of 30 mg/L satisfied the Vietnam standard grade B and grade A, respectively, for industrial wastewater. The oil recovered from the treatment has a heating value of 38095 ± 8 kJ/kg, and thus, it could be reusable as fuel gas.