The invention discloses a GaAs-based light-emitting diode chip and a cutting method thereof. The method comprises the steps as follows: (1) a P electrode and an N electrode of a GaAs-based epitaxial wafer are prepared; (2) N surface cutting is carried out on the GaAs-based epitaxial wafer prepared in the step (1) to form a cutting lane, wherein the cutting lane is consistent with the P electrode in cycle, the cutting lane overlaps with the peripheral edge of the P electrode, the N surface is the back surface, with the N electrode, of the GaAs-based epitaxial wafer and the P surface is the front surface, with the P electrode, of the GaAs-based epitaxial wafer; and (3) the GaAs-based epitaxial wafer is split according to the cutting lane, wherein the N surface of the GaAs-based epitaxial wafer is downward and the P surface is upwards placed on a splitting machine to be split. The GaAs-based light-emitting diode chip is separated by a method of splitting after N surface cutting, so that the loss of the light outlet surface of the P surface is reduced; the light outlet area is greatly increased; the quality of the chip is improved; the qualified rate of a product is improved; and large-scale production can be carried out.