Adaptive voltage scaling is a promising approach to overcome manufacturing variability, dynamic environmental fluctuation, and aging. This paper focuses on error prediction based adaptive voltage scaling (EP-AVS) and proposes a mean time to failure (MTTF) aware design methodology for EP-AVS circuits. Main contributions of this work include (1) optimization of both voltage-scaled circuit and voltage control logic, and (2) quantitative evaluation of power saving for practically long MTTF. Experimental results show that the proposed EP-AVS design methodology achieves 38.0% power saving while satisfying given target MTTF.