For different strength matching, the reliability index and failure probability of welded pressure pipe with circumferential surface crack were calculated using three dimensional stochastic finite element method. This method has overcome the shortcomings of conservative results in safety assessment with deterministic fracture mechanics method. The effects of external moment and the depth of the circumferential surface crack (a) on the reliability of pressure pipe were also calculated and discussed. The calculation results indicate that the strength matching has certain effect on the reliability of the welded pressure pipe with circumferential surface crack. The failure probability of welded pressure pipe with high strength matching is lower than that with low strength matching at the same conditions. The effects of strength matching on the failure probability and reliability index increased by adding external moment (M) and the depth of the circumferential surface crack (a). For different strength matching, the reliability index and failure probability of welded pressure pipe with circumferential surface crack were calculated using three dimensional stochastic finite element method. This method has overcome the shortcomings of conservative results in safety assessment with deterministic fracture mechanics method. The effects of external moment and the depth of the circumferential surface crack (a) on the reliability of pressure pipe were also calculated and discussed. The calculation results indicate that the strength matching has certain effect on the reliability of the welded pressure pipe with circumferential surface crack. failure probability of welded pressure pipe with high strength matching is lower than that with low strength matching at the same conditions. The effects of strength matching on the failure probability and reliability index increased by adding external moment (M) and the depth of the circumferential surface crack (a).