A method for generating performance evaluation model may be provided which executes, by using first models of function modules which are described in a transaction level, a first simulation of system operation at the transaction level between the function modules, records transactions which are generated in the first simulation per function module, executes, by using second models of the function modules which are described in a hardware level, a second simulation of circuit operation of each of the function modules to determine a delay time of each function module of the recorded transactions, and assigns information of the delay time to the first model and generating a third model per function module.