The mathematical modeling of the stability problem of nanocomposite cylindrical shells is one of the applications of partial differential equations (PDEs). In this study, the stability behavior of inhomogeneous nanocomposite cylindrical shells (INH-NCCSs), under combined axial compression and hydrostatic pressure in the thermal environment, is investigated by means of the first-order shear deformation theory (FSDT). The nanocomposite material is modeled as homogeneous and heterogeneous and is based on a carbon nanotube (CNT)-reinforced polymer with the linear variation of the mechanical properties throughout the thickness. In the heterogeneous case, the mechanical properties are modeled as the linear function of the thickness coordinate. The basic equations are derived as partial differential equations and solved in a closed form, using the Galerkin procedure, to determine the critical combined loads for the selected structure in thermal environments. To test the reliability of the proposed formulation, comparisons with the results obtained by finite element and numerical methods in the literature are accompanied by a systematic study aimed at testing the sensitivity of the design response to the loading parameters, CNT models, and thermal environment.