In this paper, we use acoustic emission (AE) system to collect the AE signals and analyze the damage evolution during the monotonic compression test. Based on the experimental correlation diagram of the load and characters of the acoustic emission, the reference load of failure was found. The experimental results also revealed the characters of the source of the acoustic emission signals after the wavelet packet decomposition and frequency spectrum analysis. The frequency range of the matrix cracking is on the range of 125~187.5 kHz, while the frequency range of layer debonding is wide, it is not just on the low-frequency range but on the high-frequency range. The frequency of fiber breakage is on the high frequency range, nearly on the range of 375~437.5 kHz.