Jacket platforms are redundant structures. Therefore, reliability analysis at system level is more applicable than at component level. Conventionally, system reliability analysis is estimated based on either fatigue loading or extreme environmental loading. The purpose of this study is to perform the structural reliability analysis of a jacket platform under both fatigue and extreme loading. In this study the fatigue limit state is defined based on the crack size, which is obtained by a fracture mechanics approach. The probability of failure for each component is calculated by using Monte-Carlo simulation. Important failure paths are identified by using a searching process. The system failure criterion is evaluated by comparing the platform strength and loading distributions in terms of base shear. In order to define a probabilistic formula for load, a global response surface method is adopted to relate the wave height to the response of the structure. A pushover analysis is also carried out to determine the capacity of the platform. Having calculated the structure strength and loading distributions, the annual probability of failure under extreme wave is calculated and compared to the tolerable probability of failure or target reliability. An application of the approach is presented.