This paper proposes a new method to design an optimal pipelined instructions set processor for ASIP development using a formal HW/SW codesign methodology. First, a HW/SW partioning algorithm for selecting an optimal pipelined architecture is outlined. Then, an adaptive detabase approach is presented that enables to enhance the optimality of the design through very accurate estimation of the performance of a pipelined ASIP in the HW/SW partitioning process. The experimental results show that the proposed method is effective and efficient.