A method and a computer-readable medium for dynamically managing power of a multi-core processor of a computing system are provided. The multi-core processor generates a dynamic voltage and frequency scaling (DVFS) table, determines a first index by alternatively selecting either a power budget or a required performance thereof, determines a current thread level parallelism (TLP) of the computing system, selects one of entries according to the current TLP and the first index, and configure first cores and second cores thereof according to a first settings and a second settings of the selected entry.