Hardware-software codesign becomes improtant to effectively sagisfy perfomrance goals, because designers can trade-off in the way hardware and software components work teogether to exhibit a specified behavior. In this paper, a hardware-software pratitioning algorithm is presetned, in which the system behavioral description containing a mixture of hardware and software components is partitioned into hardware part and software part. The partitioning algorithm tries to minimize the given cost function under constraints on hardware resources or latency. Recursive moving of operations between the hardware and software parts is used to find a near optimum partition and the list scheduling approach is used to estimate the hardware area and latency. Since memory may take substantial protion of the hardware part, memory cost is included in sthe hardware cost. Experimental resutls show that our algorithm is effective.