The run-time reconfiguration of Field Programmable Gate Arrays (FPGAs) opens new avenues to hardware reuse. Through the use of process migration between hardware and software, an FPGA provides a parallel execution cache. Busy processes can be migrated into hardware-based, parallel processors, and idle processes can be migrated out increasing the utilization of the hardware. The application of hardware/software process migration to the acceleration of Register Transfer Level (RTL) circuit simulation is developed and analyzed. RTL code can exhibit a form of locality of reference such that executing processes tend to be executed again. This property is termed executive temporal locality, and it can be exploited by migration systems to accelerate RTL simulation. In this dissertation, process migration is first formally modeled using Finite State Machines (FSMs). Upon FSMs are built programs, processes, migration realms, and the migration of process state within a realm. From this model, a taxonomy of migration realms is developed. Second, process migration is applied to the RTL simulation of digital circuits. The canonical form of an RTL process is defined, and transformations of HDL code are justified and demonstrated. These transformations allow a simulator to identify basic active units within the simulation and combine them to balance the load across a set of processors. Through the use of input monitors, executive locality of reference is identified and demonstrated on a set of six RTL designs. Finally, the implementation of a migration system is described which utilizes Virtual Machines (VMs) and Real Machines (RMs) in existing FPGAs. Empirical and algorithmic models are developed from the data collected from the implementation to evaluate the effect of optimizations and migration algorithms. / Ph. D.