A self timed TCAM based on the overlapped search mechanism was introduced. This paper introduces a performance evaluation of the power, delay, area of the self timed CAM and TCAM. To lower the power dissipation the word circuit is often divided into two sections that are sequentially searched or even pipelined. This paper presents realizes the high performance and low power TCAM for IP filter implementation. In this 128-64 bit TCAM is implemented and evaluated by XILINX ISE 8.1i.The TCAM achieves reduced power and delay.