Among the anomalous geophysical phenomena observed preceding earthquakes, specific attention has been given to VLF/LF, ULF (very low frequency/low frequency, ultra-low frequency) electromagnetic (EM) emissions, recorded before earthquakes, because of an interesting correlation between them and seismic activity. Numerous scientific papers have been published on this topic, providing convincing evidence of these processes observed using ground-based and satellite ground-based observations during the preparation for the earthquake. These phenomena are detectable both at laboratory and geological scales. The authors of this paper have used an avalanche-like unstable geological model of fault formation and a model of the generation of electromagnetic emissions detected before the earthquakes to prove the prediction capabilities of VLF/LF EM emissions. The first gives a clear imagination of earthquake preparation in all stages in the focal area from the beginning of the micro-cracks appearing to the final formation of fault. Another one, based on electrodynamics, explains the EM emissions origination process and offers a formula that analytically connects the observed frequency of EM radiation with the linear size of the emitted body (fault). It is worth emphasizing the synthesis and rather harmonious relation of the mentioned models. Based on the above models conducted studies clearly show that the description of a qualitative avalanche-unstable geological model of fault formation using VLF/LF EM radiation data made it possible to quantitatively characterize the full cycle of preparation and occurrence of earthquake process. Namely, in the case of VLF/LF emissions monitoring, the beginning of the “avalanche process” of ruptures is considered the first stage of early warning of an incoming earthquake. The so-called EM emissions “silence” period is assessed as the second stage of early warning. The third early warning or an alarm about an incoming earthquake may be announced immediately at the moment of the first anomaly appearance subsequently the “silence” period. This article offers the method of earthquake three-step early warning and short-term (hourly) prediction.