The growing threat of Hardware Trojans (HT) in the System-on-Chips (SoC) industry has given way to the embedded systems researchers to propose a series of detection methodologies to identify and detect the presence of Trojan circuits or logics inside a host design in the various stages of the chip design and manufacturing process. Many state of the art works propose different techniques for HT detection among which the popular choice remains the Side-Channel Analysis (SCA) based methods that perform differential analysis targeting the difference in consumption of power, change in electromagnetic emanation or the delay in propagation of logic in various paths of the circuit. Even though the effectiveness of these methods are well established, the evaluation is carried out on simplistic models such as AES coprocessors and the analytical approaches used for these methods are limited by some statistical metrics such as direct comparison of EM traces or the T-test coefficients. In this paper, we propose two new detection methodologies based on Machine Learning algorithms. The first method consists in applying the supervised Machine Learning (ML) algorithms on raw EM traces for the classification and detection of HT. It offers a detection rate close to 90% and false negative smaller than 5%. In the second method, we propose an outlier/novelty algorithms based approach. This method combined with the T-test based signal processing technique, when compared with state-of-the-art, offers a better performance with a detection rate close to 100% and a false positive smaller than 1%. In different experiments, the false negative is nearly the same level than the false positive and for that reason the authors only show the false positive value on the results. We have evaluated the performance of our method on a complex target design: RISC-V generic processor. Three HTs with their corresponding sizes: 0.53%, 0.27% and 0.09% of the RISC-V processors are inserted for the experimentation. In this paper we provide elaborative details of our tests and experimental process for reproducibility. The experimental results show that the inserted HTs, though minimalistic, can be successfully detected using our new methodology.