This paper presents a hardware-reuse strong physical unclonable function (PUF) based on the intrinsic transfer paths (TPs) of a conventional digital multiplier to achieve a strong modeling attack resilience. With the multiplier input employed as the PUF challenge and the path delay as the entropy source, all the possible valid propagation paths from distinct input/output pairs can serve as PUF primitives. We can quantize the path delay using a time-to-digital converter (TDC), and select the suitable TDC output bits as the PUF response. We further propose a lightweight dynamic obfuscation algorithm (DOA) and a secure mutual authentication protocol to counteract modeling attacks. The proposed strong PUF using a 32 × 32 multiplier as implemented in the Xilinx ZYNQ-7000 SoC features a total of 2048 intrinsic PUF primitives, while achieving a response stream (RS) with an average of 1024 responses per TDC output bit per challenge. With Bit(5) and Bit(6) of the TDC output selected for PUF response generation, they demonstrate a measured reliability and uniqueness of up to 98.31% and 49.34%, respectively, with their excellent randomness performance as validated by the NIST SP800-22 tests. Under machine learning (ML)-based modeling attack with artificial neural network (ANN), the measured prediction accuracy of both Bit(5) and Bit(6) can still be maintained at 50% with a total of >200 million CRPs as the training set.