In this paper, we present an analytical model of adaptive channel preemption (ACP) for small-cell embedded large-cellular (SCELC) networks. An SCELC network consists of a fixed base station (FBS) with large coverage and many embedded base stations (EBS) with relatively small coverage. Channel capacity in an FBS cell may become insufficient when traffic is unexpectedly increased particularly in some special occasion. This paper considers two aspects of dynamically allocating channels for an SCELC network. First, by increasing one or more EBS cells within an FBS cell, the proposed ACP can reduce blocking probability of new calls. Second, to reduce dropping probability of handoff calls, the proposed ACP allows a handoff call to preempt an on-going call, when the latter is located in an EBS cell or in the overlapping area of two adjacent FBS cells. For the purpose of performance evaluation, we build an analytical model with 4-tuple Markov chains. Numerical results reveal that embedding one or more EBS cells inside an FBS cell needs to be done carefully since it results in a tradeoff between the reduction of new-call blocking probability and the increase of handoff-call dropping probability.