In contrast to other cutting processes, adiabatic blanking typically features high blanking velocities (>3 m/s), which can lead to the formation of adiabatic shear bands in the blanking surface. The produced surfaces have excellent properties, such as high hardness, low roll-over, and low roughness. However, details about the qualitative and quantitative influence of significant process parameters on the quality of the blanked surface are still lacking. In the presented study, a variable tool is used for a systematic investigation of different process parameters and their influences on the blanked surface of a hardened 22MnB5 steel. Different relative clearances (1.67% to 16.67%), velocities (7 to 12.5 m/s), and impact energies (250 J to 1000 J) were studied in detail. It is demonstrated that a relative clearance of ≤6.67% and an impact velocity of ≥7 m/s lead to adiabatic shear band formation, regardless of the impact energy. Further, an initiated shear band results in the formation of an S-shaped surface. Unexpectedly, a low impact energy results in the highest geometric accuracy. The influence of the clearance, the velocity, and the impact energy on the evolution of adiabatic shear band formation is shown for the first time. The gained knowledge can enable a functionalization of the blanked surfaces in the future.