I hope the image will help cause otherwise I am not sure how to explain this without a visual support.
In the upper part of the image we have a rhombus ABCD that, when viewed from a top view, looks like the image on bottom of the figure. The point that corresponds to the center of the log is C.
Now the hard part that requires visualizing the process. Imagine that we can lift the point A on a line that is orthogonal on the initial plane of the rhombus. The ABCD shape remains a rhombus if both points B and C are also lift accordingly.
Using this process, we have to lift point A such that the new shape described by the shifted points A'B'CD' (C remains fixed) becomes a square, which is equivalent to having A'C=B'D' (after the shift of the points!)
With this info we can compute the angle $\theta$ between the now square and the initial plane using
$$\cos(\theta) = \frac{AC}{A'C} = \frac{AC}{BD}.$$
This formula is applied in the resulting triangle ACA'.

Now we have to relate the formula for this angle with the geometry of the log. A top view of the log with the cube inserted in it would look something like the following image where the point C is on the top or bottom flat surface of the log.
From this perspective it should be clear that during the shifting of mentioned above it is true that BD=B'D'. But BD is the edge of an equilateral triangle, and DC is the radius $r$ of the cylinder. So from this point you can compute the radius by knowing the edge of the triangle which gives
$$r = DC = BD \frac{\sqrt{3}}{3}.$$
This links the radius of the log with the angle $\theta$ through BD.

The final step is to link the height of the log with the angle. This should follow easily by observing that the height should be
$$h = l_{cube} \sqrt{3}$$
where $l_{cube}$ is the length of the edge of the cube. From the previous formula
$$\cos(\theta) = \frac{AC}{BD} = \frac{r}{l_{cube}\sqrt{2}}$$
which gives
$$r = \frac{\sqrt{2}}{3}h.$$
Now to put everything in terms of the shape of the log, the angle at which the cuts have to be made is
$$\theta = \arccos(\frac{1}{\sqrt{3}}) \approx 54.73^o$$
and the goemetry of the log has to satisfy the condition
$$r = \frac{\sqrt{2}}{3}h.$$
I would assume that the directions along which the cuts have to be made is not a problem for you. For others however, one can mark the center of a flat surface of the log and then draw 3 segments that have a $120^o$ between them. Then the cuts have to be made at the above mentioned angle with the drawn line being orthogonal to the intersection of the cutting plane and the flat surface.
EDIT: Correction applied based on comment from Joshua Wang. Thank you!