Software based emulation of a real hardware is an imitation of its internal design by the software application (model), which behavior is similar to the behavior of the hardware (keeps functionality). Emulators are used with advantage in development (where expensive or old hardware is partially or completely supplied by an emulator), testing and also as a support for machine non-compatible software. Considering a concept of Von-Neumann computer, the central processing unit (CPU) emulation is a core of the computer emulator. Within this paper, theoretical aspects of a CPU emulation are treated and a concrete software solution is also presented.