The vertical spacing among reinforcements in geosynthetic-reinforced earth embankment is crucial to its overall stability. Based on the upper bound theorem of plastic limit analysis and pseudo-static approach, an overall stability analysis method for bilaterally wrapped reinforced embankments under strip surcharge and seismic action is put forward in view of the planar and log-spiral failure mechanism of the reinforced embankments, which quantitatively expresses the relationship between the reinforcement spacing and the factor of safety of the embankments. Some examples show that the maximum relative error of the factor of safety between the proposed method and some existing methods is around 10% under a specified reinforcement spacing. The factor of safety is nonlinearly decreasing as the reinforcement spacing increases, and the results by the log-spiral mode are slightly more conservative than those by the planar mode. The proposed method can quantitatively reflect the influence of the filling properties, reinforcement strength, seismic forces, strip surcharge, and embankment geometry on the reinforcement spacing. The nonlinear negative relationship between the factor of safety and the reinforcement spacing is noticeable under different reinforcement strengths. The reinforcement spacing is almost linearly reducing with the increase of the vertical seismic coefficient increases, while it decreases clearly nonlinearly as the horizontal seismic coefficient increases.