As a new hardware carrier, Evolvable Hardware(EH) features the capabilities of self-organizing, adaptive, and self-healing. A basic evolutionary hardware unit consisting of a Look Up Table (LUT) and a D flip-flop is proposed to meet the requirements of designing combinational logic circuit and sequential logic circuit. Fitness evaluation function is designed to be compatible with the combinational logic circuit and sequential logic circuit. Parameters of evolvable hardware based on Genetic Algorithm (GA) and Monkey-King Genetic Algorithm(MKGA) are optimized using this model. It is showed that GA mutation probability should be valued from 0 to 0.01, and the effects of crossover probability on GA performance can be ignored；while for MKGA, the reserved probability from 0 to 0.85，and mutation probability from 0 to 0.01 according to the analysis. The performances of GA and MKGA are compared: the computation amount of EH based on MKGA is only 1/4 of that based on GA while MKGA could get the circuit structure much closer to the target circuit.