A method dynamically reconfigures a system on a chip (SOC) comprising multiple semiconductor intellectual property (IP) blocks. The method comprises, when booting a data processing system (DPS) comprising the SOC, automatically allocating different IP blocks to multiple different microsystems within the DPS, based on a static partitioning policy (SPP). The method also comprises, after booting the DPS, determining that reallocation of at least one of the IP blocks is desired, based on (a) monitored conditions of at least one of the microsystems and (b) a dynamic partitioning policy (DPP). The method also comprises, in response to determining that reallocation of at least one of the IP blocks is desired, automatically reallocating at least one of the IP blocks from one of the microsystems to another of the microsystems without resetting at least one of the microsystems. Other embodiments are described and claimed.