We present a methodology and an automated system for function evaluation unit generation. Our system selects the best function evaluation hardware for a given function, accuracy requirements, technology mapping, and optimization metrics, such as area, throughput, and latency. Function evaluation f(x) typically consists of range reduction and the actual evaluation on a small convenient interval such as [0, π/2) for sin(x). We investigate the impact of hardware function evaluation with range reduction for a given range and precision of x and f(x) on area and speed. An automated bit-width optimization technique for minimizing the sizes of the operators in the data paths is also proposed. We explore a vast design space for fixed-point sin(x), log(x), and √x accurate to one unit in the last place using MATLAB and ASC, a stream compiler for field-programmable gate arrays (FPGAs). In this study, we implement over 2,000 placed-and-routed FPGA designs, resulting in over 100 million application-specific integrated circuit (ASIC) equivalent gates. We provide optimal function evaluation results for range and precision combinations between 8 and 48 bits.