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The stiffened cylindrical shell is commonly used for the pressure hull of submersibles and the legs of offshore platforms. There are various failure modes because of uncertainty with the structural size and material properties, uncertainty of the calculation model and machining errors. Correlations among failure modes must be considered with the structural reliability of stiffened cylindrical shells. However, the traditional method cannot consider the correlations effectively. The aim of this study is to present a method of reliability analysis for stiffened cylindrical shells which considers the correlations among failure modes. Firstly, the joint failure probability calculation formula of two related failure modes is derived through use of the 2D joint probability density function. Secondly, the full probability formula of the tandem structural system is given with consideration to the correlations among failure modes. At last, the accuracy of the system reliability calculation is verified through use of the Monte Carlo simulation. Result of the analysis shows the failure probability of stiffened cylindrical shells can be gained through adding the failure probability of each mode.