In this paper, we describe the concept of generative design approach applied to the automated evolutionary learning of mathematical models in a computationally efficient way. To formalize the problems of models’ design and co-design, the generalized formulation of the modeling workflow is proposed. A parallelized evolutionary learning approach for the identification of model structure is described for the equation-based model and composite machine learning models. Moreover, the involvement of the performance models in the design process is analyzed. A set of experiments with various models and computational resources is conducted to verify different aspects of the proposed approach.