The ever-increasing complexity of embedded systems consisting of hardware and software components poses a challenge in verifying their correctness. New verification methods that overcome the limitations of traditional techniques and, at the same time, are suitable for hardware/software systems are needed. In this work we formally define the semantics of PRES+, a Petri net based computational model aimed to represent embedded systems. We introduce an approach to formal verification of such systems: we make use of model checking to prove the correctness of embedded systems by determining the truth of CTL and TCTL formulas that specify required properties with respect to a PRES+ model. An ATM server illustrates the feasibility of our approach on practical applications.