Multi-cycle paths are paths between registers where 2 or more clock cycles are allowed to propagate signals, and the detection of multi-cycle paths is important in deciding proper clock period, timing verification and logic optimization. This paper presents a satisfiability-based multi-cycle path detection method, where the detection problems are reduced to CNF formulae and the satisfiability is checked using SAT provers. We also show heuristics on conversion from multi-level circuits into CNF formulae. We have applied our method to ISCAS'89 benchmarks and other sample circuits. Experimental results show the remarkable improvements on the size of manipulatable circuits.