This paper presents a model of dynamically variable voltage processor and basic theorems for power-delay optimization. A static voltage scheduling problem is also proposed and formulated as an integer linear programming (ILP) problem. In the problem, we assume that a core processor can vary its supply voltage dynamically, but can use only a single voltage level at a time. For a given application program and a dynamically variable voltage processor, a voltage scheduling which minimizes energy consumption under an execution time constraint can be found.