Abstract: The Hard Core Processor (Power PC) can be replaced by Sot Core Processor (Micro Blaze) to develop SoC based applications on FPGA and this also reduces the cost o IP Cores. But the existing problem with Micro Blaze Soft Core Processor is that it does not have capability to read data from high speed sensors. Due to this the usage of Micro Blaze is limited to low frequency I/O applications. By introducing a high speed serial communication protocol this problem can be eliminated without increasing the hardware resources. This high speed serial communication protocol based on FPGA or SoC applications is proposed in this paper. The design is adopted Spartran 3E FPGA chip and simulation results indicate that it satisfies protocol requirements.