Kamianets-Podilskyi is located in the southern portion of the Khmelnytskyi Oblast, located in the western Ukrainian region of Podillia. The Smotrych River, a tributary of the Dniester, flows through the city. The total area of the city comprises 27.84 square kilometers (10.7 sq mi). The city is located about 101 kilometres (62.8 mi) from the oblast's administrative center, Khmelnytskyi.

Several historians consider that a city on this spot was founded by the ancient Dacians, who lived in what is now modern Romania, Moldova, and portions of Ukraine. Historians claim that the founders named the settlement Petridava or Klepidava, which originate from the Greek word petra or the Latin lapis meaning "stone" and the Dacian dava meaning "city"