The most important difference between the p-n diode and the Schottky diode is the reverse recovery time (t_rr), when the diode switches from the conducting to the non-conducting state. In a p–n diode, the reverse recovery time can be in the order of several microseconds to less than 100ns for fast diodes. Schottky diodes do not have a recovery time, as there is nothing to recover from (i.e., there is no charge carrier depletion region at the junction). The switching time is ~100ps (pico-seconds) for the small-signal diodes, and up to tens of nanoseconds for special high-capacity power diodes. With p–n-junction switching, there is also a reverse recovery current, which in high-power semiconductors brings increased EMI noise. With Schottky diodes, switching is essentially "instantaneous" with only a slight capacitive loading, which is much less of a concern.

This "instantaneous" switching is not always the case. In higher voltage Schottky devices, in particular, the guard ring structure needed to control breakdown field geometry creates a parasitic p-n diode with the usual recovery time attributes. As long as this guard ring diode is not forward biased, it adds only capacitance. If the Schottky junction is driven hard enough however, the forward voltage eventually will bias both diodes forward and actual t_rr will be greatly impacted.