Over the past many years, technology scaling has resulted in a continuous reduction of lateral and vertical dimensions of transistors. The technology scaling, on the one hand, has led to a commensurate performance gain for very-large-scale integration (VLSI) circuits, but on the other hand, has also made such circuits more vulnerable to ionizing radiations which can cause single event effects(SEEs). These SEEs may cause the underlying user circuitry to deviate from its normal behavior. Devices that are destined for space missions need special protection for such kind of anomalies as space environment is filled with massive amount of high energy particles and ionizing radiations. In this thesis, the design, implementation, and verification of a fault-tolerant r-VEX, a softcore processor, is presented, so that it could be used as an attractive alternative to expensive radiation-hardened processors for space-based applications. r-VEX is a VLIW based, dynamically reconfigurable processor. Keeping in line with its inherent attribute, a dynamically reconfigurable fault-tolerant mode is presented in this work, which provides the running application an option to activate and deactivate the fault-tolerant mode multiple times. In this mode, for the protection of processor pipeline, a non-traditional TMR approach that requires 3 lanegroups running in 2-way mode is implemented. For the reliability of user memories, Hamming codes are implemented as an ECC coding scheme. The functionally of our fault-tolerant design is verified by using both a simulation-based platform (ModelSim) and an on-board FPGA platform (ML605 development kit). To measure the fault-tolerant capabilities of the r-VEX core, saboteurs are used to artificially inject faults at various predefined locations in the core. The obtained results have shown that our design can mitigate all injected single faults in the pipeline and double faults in the caches, without triggering any failure. The dynamically configurable fault-tolerant feature is obtained at the cost of about 30% additional resource utilization and 20% reduction in the maximum operating frequency.