We study the most general scalar potential of the Georgi-Machacek model, which adds isospin-triplet scalars to the Standard Model (SM) in a way that preserves custodial SU(2) symmetry. We show that this model possesses a decoupling limit, in which the predominantly-triplet states become heavy and degenerate while the couplings of the remaining light neutral scalar approach those of the SM Higgs boson. We find that the SM-like Higgs boson couplings to fermion pairs and gauge boson pairs can deviate from their SM values by corrections as large as $\mathcal{O}(v^2/M_{\rm new}^2)$, where $v$ is the SM Higgs vacuum expectation value and $M_{\rm new}$ is the mass scale of the predominantly-triplet states. In particular, the SM-like Higgs boson couplings to $W$ and $Z$ boson pairs can decouple much more slowly than in two Higgs doublet models, in which they deviate from their SM values like $\mathcal{O}(v^4/M_{\rm new}^4)$. Furthermore, near the decoupling limit the SM-like Higgs boson couplings to $W$ and $Z$ pairs are always larger than their SM values, which cannot occur in two Higgs doublet models. As such, a precision measurement of Higgs couplings to $W$ and $Z$ pairs may provide an effective method of distinguishing the Georgi-Machacek model from two Higgs doublet models. Using numerical scans, we show that the coupling deviations can reach 10\% for $M_{\rm new}$ as large as 800~GeV.