Systems, apparatuses, and methods for performing real-time video rendering with performance guaranteed power management are disclosed. A system includes at least a software driver, a power management unit, and a plurality of processing elements for performing rendering tasks. The system receives inputs which correspond to rendering tasks which need to be performed. The software driver monitors the inputs that are received and the number of rendering tasks to which they correspond. The software driver also monitors the amount of time remaining until the next video synchronization signal. The software driver determines which performance setting will minimize power consumption while still allowing enough time to finish the rendering tasks for the current frame before the next video synchronization signal. Then, the software driver causes the power management unit to provide this performance setting to the plurality of processing elements as they perform the rendering tasks for the current frame.