A method and circuit arrangement utilize a general purpose processing unit having a low power DSP mode for reconfiguring the general purpose processing unit to efficiently execute DSP workloads with reduced power consumption. When in a DSP mode, one or more of a data cache, an execution unit, and simultaneous multithreading may be disabled to reduce power consumption and improve performance for DSP workloads. Furthermore, partitioning of a register file to support multithreading, and register renaming functionality, may be disabled to provide an expanded set of registers for use with DSP workloads. As a result, a general purpose processing unit may be provided with enhanced performance for DSP workloads with reduced power consumption, while also not sacrificing performance for other non-DSP / general purpose workloads.