In one embodiment, the voltage droop monitoring circuit includes a ring oscillator circuit block configured to generate a plurality of oscillation signals and configured to output a selected oscillation signal from one of the plurality of oscillation signals based on a first control signal. The first control signal is based on a power supply voltage of a functional circuit block. The voltage droop monitoring circuit further includes a counter configured to generate a count value based on the selected oscillation signal, and a droop detector configured detect droop in the power supply voltage of the functional circuit block based on the count value and at least one threshold value.