In this paper, a VHDL implementation method for the internet protocol (IP) placed on top of ATM, so called IP over ATM, is presented. The proposed implementation method employs a parallel processing architecture to reduce the processing time and offers 155.52Mbps (STM-1) interface with the full-duplex mode for the ATM-based network. Furthermore, in order to minimize the search time for the table look-up, a LANCAM-based structure combining the routing table with the ATMARP table is proposed. The VHDL simulation results show that this proposed method can transmit (receive) at 155.52Mbps with delays of 48.5 clocks (29.5clocks).