A modern system-on-chip (SoC) includes many heterogeneous IP components. Generally, a few embedded processors are integrated into SoCs. An asynchronous circuit design technique is employed to achieve low power/energy consumption. In this paper, we design an asynchronous embedded processor on FPGAs and analyze its possible benefits on commercial FPGAs. We use commercially available 65nm high-performance Virtex-5 and 45nm low-power Spartan-6 Xilinx FPGAs to show the impact on power consumption for the two different extreme cases. For the high performance Virtex-5, our asynchronous processor shows 36.8% lower power consumption when compared with its synchronous counterpart. On the other hand, the asynchronous processor consumes 25.6% more power in a low power Spartan-6 FPGA. However, through simple analysis and power simulation, we show that the event-driven nature of asynchronous circuits can further save power/energy even in the Spartan-6 FPGA.