An apparatus, computer readable medium, and method of event based dynamic power management. The method includes responding to receiving an indication of an event that is external to a hardware block engine by adjusting the power to the hardware block engine, if the event indicates that the power to the hardware block engine should be adjusted. The method may include receiving a second event that is external to the hardware block engine. The method may include determining whether or not the power should be adjusted to the hardware block engine based on the event and the second event. If it is determined that the power should be adjusted, then the power may be adjusted to the hardware block based on the event and second event. A method of monitoring a component and sending an indication of an event that the component will not require a hardware block engine is disclosed.