Tolerance design plays an important role in reliability design for electronic circuits. The traditional method only focuses on the consistency of output response. It is not able to meet the needs of increasing development of electronic products. This paper researches the state of related fields and proposes a method of multi-objective reliability tolerance design. The characteristics of output response and operating stresses on critical components are both defined as design objectives. Critical components and their operating stresses are determined by failure mode and effect analysis (FMEA) and fault tree analysis (FTA). Sensitivity analysis is carried out to determine sensitive parameters that affect the design objectives significantly. Monte Carlo and worst-case analysis are utilized to explore the tolerance levels of sensitive parameters. Design of experiment and regression analysis are applied in this method. The optimal tolerance levels are selected in accord with a quality-cost model to improve consistency of output response and reduce failure rates of critical components synchronously. The application in light-emitting diode (LED) drivers indicates details and potential. It shows that the proposed method provides a more effective way to improve performance and reliability of electronic circuits. Tolerance design plays an important role in reliability design for electronic circuits. The traditional method only focuses on the consistency of output response. It is not able to meet the needs of increasing development of electronic products. This paper researches the state of related fields and vi a method of multi-objective reliability tolerance design. The characteristics of output response and operating stresses on critical components are both defined as design objectives. Critical components and their operating stresses are determined by failure mode and effect analysis (FMEA) and fault tree analysis ( FTA). Sensitivity analysis is carried out to determine sensitive parameters that affect the design objectives significantly. Monte Carlo and worst-case analysis are utilized to explore the tolerance levels of sensitive parameters. Design of experiment and regression analysis are applied in this method. The optimal tolerance levels are selected in accord with a quality-cost m odel to improve consistency of output response and reduce failure rates of critical components synchronously. The application in light-emitting diode (LEDs) shows the potential of synchronously. It shows that the proposed method provides a more effective way to improve performance and reliability of electronic circuits.