A high-level consumption estimation methodology and its associated tool, SoftExplorer, are presented. The estimation methodology uses a functional modeling of the processor combined with a parametric model to allow the designer to estimate the power consumption when the embedded software is executed on the target. SoftExplorer uses as input the assembly code generated by the compiler; its efficiency is compared to SimplePower’s approach. Results for different processors (TI C62, C67, C55 and ARM7) and for several DSP applications provide an average error less than 5%. The accuracy and the rapidness of the estimation allow using SoftExplorer for efficiently guiding the designer in choosing the more appropriate processor for his application.