As the key module of programmable switches or the SmartNIC card, the packet processing pipeline undertakes the task of packet forwarding and processing. However, the current pipeline for the FPGA-based SmartNIC is inflexible, and the related reconfigurable commercial device designs are closed-source. To solve this problem, this paper proposes a high-performance reconfigurable pipeline design, which has fully reconfigurable match-action units, supporting various network functions by its flexible reconfiguration. The fields of the match key and the size of the match table can be reconfigured without recompiling the HDL code or modifying the hardware. The processing rules and action instructions for the pipeline can be dynamically installed by the configuration module at runtime. We implement our design on the Xilinx Alveo U200 board with a Virtex UltraScale+ XCU200-2FSGD2104E FPGA and show that the designed pipeline supports fast reconfiguration to implement new network functions and that the throughput of the designed pipeline reaches 100 Gbps with low latency.