Despite a considerable progress in verification and abstraction of random and control logic, advances in formal verification of arithmetic designs have been lagging. This can be attributed mostly to the difficulty in an efficient modeling of arithmetic circuits and datapaths without resorting to computationally expensive Boolean methods, such as Binary Decision Diagrams (BDDs) and Boolean Satisfiability (SAT), that require “bit blasting”, i.e., flattening the design to a bit-level netlist. Approaches that rely on computer algebra and Satisfiability Modulo Theories (SMT) methods are either too abstract to handle the bit-level nature of arithmetic designs or require solving computationally expensive decision or satisfiability problems. The work proposed in this thesis aims at overcoming the limitations of analyzing arithmetic circuits, specifically at the post-synthesized phase. It addresses the verification, abstraction and reverse engineering problems of arithmetic circuits at an algebraic level, treating an arithmetic circuit and its specification as a properly constructed algebraic system. The proposed technique solves these problems by function extraction, i.e., by deriving arithmetic function computed by the circuit from its low-level circuit implementation using computer algebraic rewriting technique. The proposed techniques work on large integer arithmetic circuits and finite field arithmetic circuits, up to 512-bit wide containing millions of logic gates.