This paper proposes a rapid and accurate evaluation scheme for cycle counts of a pipelined processor using evaluation reuse technique. Since exploration of an optimal processor is a timeconsuming task due to large design space, fast evaluation methodology for an architecture is crucial. We introduce the performance simulation model which can evaluate the performance without considering the functional correctness. This model has an FSM-like form and can afford to take all hazard types of pipelined architectures into consideration. The proposed approach is based on the property that an application program, especially multimedia application, has many iterative loops in general. This property invokes many iterative operations in the simulation. Evaluation reuse scheme can alleviate redundantly iterative operations of conventional simulators in the loop. A performance simulator for the pipeline architecture has been developed through which greater speedup has been made compared with other ...