The Collaborative International Dictionary of English v.0.48:

Emancipate \E*man"ci*pate\, v. t. [imp. & p. p. Emancipated;
   p. pr. & vb. n. Emancipating.] [L. emancipatus, p. p. of
   emancipare to emancipate; e + mancipare to transfer ownership
   in, fr. manceps purchaser, as being one who laid his hand on
   the thing bought; manus hand + capere to take. See Manual,
   and Capable.]
   To set free from the power of another; to liberate; as:
   (a) To set free, as a minor from a parent; as, a father may
       emancipate a child.
   (b) To set free from bondage; to give freedom to; to manumit;
       as, to emancipate a slave, or a country.
       [1913 Webster]

             Brasidas . . . declaring that he was sent to
             emancipate Hellas.                   --Jowett
                                                  (Thucyd. ).
   (c) To free from any controlling influence, especially from
       anything which exerts undue or evil influence; as, to
       emancipate one from prejudices or error.
       [1913 Webster]

             From how many troublesome and slavish impertinences
             . . . he had emancipated and freed himself.
                                                  --Evelyn.
       [1913 Webster]

             To emancipate the human conscience.  --A. W. Ward.
       [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

emancipated \emancipated\ adj.
   1. free from traditional social restraints; -- used
      especially of women; as, an emancipated young woman
      pursuing her career. [WordNet sense 1]

   Syn: liberated.
        [WordNet 1.5]

   2. freed from bondage. [WordNet sense 2]

   Syn: freed, liberated.
        [WordNet 1.5] emancipating

WordNet (r) 3.0 (2006):

emancipated
    adj 1: free from traditional social restraints; "an emancipated
           young woman pursuing her career"; "a liberated lifestyle"
           [syn: emancipated, liberated]

Moby Thesaurus II by Grady Ward, 1.0:

33 Moby Thesaurus words for "emancipated":
   afoot and lighthearted, at large, at liberty, clear, delivered,
   detached, disengaged, easygoing, extricated, footloose,
   footloose and fancy-free, free, free and easy, free as air,
   freeborn, freed, go-as-you-please, in the clear, liberated, loose,
   on parole, on the loose, redeemed, released, rescued, scot-free,
   unattached, unbound, uncommitted, unengaged, uninvolved,
   unshackled, untied