Due to the uncertainties related to the flaw assessment parameters, such as flaw size, fracture toughness, loading spectrum and so on, the probability concept is preferred over deterministic one in flaw assessment. In this study, efforts have been made to develop the reliability based flaw assessment procedure which combines the flaw assessment procedure of BS7910 and first- and second-order reliability methods (FORM/SORM). Both crack length and depth of semi-elliptical surface crack at weld toe were handled as random variable whose probability distribution was defined as Gaussian with certain means and standard deviations. Then the limit state functions from static rupture and fatigue perspective were estimated using FORM and SORM in joint probability space of crack depth and length. The validity of predicted limit state functions were checked by comparing it with those obtained by Monte Carlo simulation. It was confirmed that the developed methodology worked perfectly in predicting the limit state functions without time-consuming Monte Carlo simulation.