The shape and thickness of the trailing edge are important factors in the supersonic loss in transonic cascades. To investigate the influence of trailing edge shape, a prismatic turbine cascade and a three-dimensional cascade with an elliptic trailing edge were analyzed with numerical simulation by changing different elliptic axis ratios ER. It was indicated that the shock wave and its mixing with the wake were the important sources of loss in the transonic prismatic cascade. With the increase of exit Mach number, shock waves are generated rapidly and migrate downstream, and the shock loss and the total loss of the prismatic cascade are both accrescent. Increasing the elliptical axis ratio could weaken shock waves and delay shock waves. In the loss state region 3, the cascade loss of the ER3 blade is reduced by 8% compared with the round trailing edge cascade. As the elliptical axis ratio of the three-dimensional cascade is increasing, the profile loss and secondary loss are reduced. However, an excessive elliptical axis ratio could lead to an increase in tip leakage loss. Within the range of ER values from 0 to 3, the total loss of the transonic three-dimensional cascade reached minimization when ER was 3.0.