Accurately determined acoustic emission (AE) locations provide significant information on fracture systems, such as the orientation of fractures in a geothermal reservoir. To determine the relative source locations among a group of seismic events, similar AE waveforms must be detected and the relative arrival times of the P and S waves must be determined. In this paper, a method to identify similar AE waveforms is proposed, in which wavelet transform scalograms are used to determine the phase-only correlation function. The proposed method was applied to arbitrarily selected seismic waveforms, and its feasibility was evaluated by comparing the results with those obtained when the phase-only correlation function was obtained by using Fourier transform results.