Esterel is a concurrent synchronous language for developing reactive systems. As an alternative to the classical software and hardware synthesis paths, the reactive processing approach uses a specialized processor with an instruction set tailored to Esterel. A principal difficulty when compiling onto a reactive processor is the faithful, efficient implementation of concurrency. This paper presents a novel reactive processor architecture based on multi-threading, which allows the arbitrary nesting of preemption and concurrency, and is scalable to very high degrees of concurrency. Categories and Subject Descriptors C.1 [Processor Architectures]: Other Architecture Styles— High-level language architectures General Terms Languages, Performance Keywords Synchronous languages, Esterel, processor architecture, multithreading