We present a test scheduling methodology for core-based system-on-chips that allows tradeoff between system power dissipation and overall test time. The basic strategy is to use the power profile of non-embedded cores to find the best mix of their test pattern subsets that satisfy the power and/or time constraints. An MILP formulation is presented to globally perform the power-time tradeoff and produce the SoC test schedule. Many constraints including peak/average power of cores, time/sequencing requirements, and ATE pin limitation are also incorporated within this formulation.