The aim of this paper is the analysis of the generation capabilities of noncircular cogbelt pulleys on the example of a cogbelt pulley with an elliptical pitch line. The need of elaboration of different manufacturing methods for noncircular cogbelt pulleys than existing ones for noncircular gears is shown. Relationships for the mutual position of the cutting tool and noncircular cogbelt pulley during teeth generating are given. The profile of the tool’s cutting edge, which provides the required shape of tooth spaces, is elaborated. Recommendations for designers and process engineers, who deal with elaboration of technology for noncircular cogbelt pulleys, are formulated.