Using a level oriented model for verification of asynchronous circuits helps users to easily construct formal models with high readability or to naturally model data-path circuits. On the other hand, in order to use such a model for larger circuit, some technique to avoid the state explosion problem is essential. This paper first defines a level oriented formal model based on time Petri nets, and then proposes a partial order reduction algorithm that prunes unnecessary state generation while guaranteeing the correctness of the verification.