We propose a semi-automatic HW/SW codesign flow for low-power and low-cost Neuro-Fuzzy embedded systems. Applications range from fast prototyping of embedded systems to high-speed simulation of Simulink models and rapid design of Neuro-Fuzzy devices. The proposed codesign flow works with different technologies and architectures (namely, software, digital and analog). We have used The Mathworks' Simulink© environment for functional specification and for analysis of performance criteria such as timing (latency and throughput), power dissipation, size and cost. The proposed flow can exploit trade-offs between SW and HW as well as between digital and analog implementations, and it can generate, respectively, the C, VHDL and SKILL codes of the selected architectures.