Nowadays the designs of HW/SW are extremely complex. HW/SW co-verification is really difficult, consequently the new design layer, Electronic-System Level (ESL), is proposed to replace the original design flow. Today¡¦s ESL can verify the whole system simulation include the Processor, Bus, Memory¡K such as the HWs. It also can run a small program on the system. But it is hard to verify the larger program - such as the operation system because the limitations of the simulation speed. Currently some people proposed the QEMU-SystemC virtual platform. It can greatly speed up the CPU simulation speed. But the abstract simulated CPU has no timing information. It is infeasible to explore the system execution time and performance. We proposed the method: CPU, Cache, TLB and SDRAM with timing model; connect the CPU and the designed HW in TLM bus module in the HW/SW co-simulation. We can analyze the performance in the estimated timing information, and it will not take many simulation times. In addition, we developed the analysis program to show the execution time in each program block. It can help designer to locate the performance bottleneck quickly in the complex HW/SW. A case study is the 3D graphic SoC. We find the performance bottleneck in HW/SW design according the performance information purposed by our work.