Whereas some companies purchase IP that comes with HW/SW Co-design Tool oriented for developing, verification and testing of embedded software, many others have the need to develop their own IP. This can be expensive and inefficient and also represents a challenge as the workflow must be fast in order to be competitive in the fast-paced technology industries. Therefore, the aim of this thesis is to create a HW/SW Co-design Tool that allows to develop, test and debug embedded software in a user friendly and efficient way. This is attained by using different modelling levels such as cycle accurate and transaction accurate on the same system.