A reliable constitutive model is essential for accurately predicting slope deformation in numerical analysis, which includes assessing slope stability as an integral component. However, calculating slope stability in numerical models can be challenging due to complex boundary conditions and advanced constitutive models, especially when probabilistic and hydro‐mechanical coupled simulations are required. In this paper, we use a vector‐sum method‐based framework for slope stability analysis that incorporates a critical state hypoplastic constitutive model. The rationality and accuracy of the stability results are initially verified through critical slip surface analysis and a factor of safety evaluation. Subsequently, we investigate the probability‐based slope stability and failure characteristics by incorporating the spatial variability of strength parameters into the hypoplastic model. Finally, the Baishuihe landslide in the Three Gorges Reservoir Region is examined as a case study, where hydro‐mechanical coupled simulations are conducted under actual water level and rainfall conditions. The time‐varying stability and deformation characteristics of the landslide are analyzed and compared with the results obtained from the Mohr‐Coulomb model. The analysis results demonstrate the practicality and efficiency of using a hypoplastic model for probabilistic and time‐varying slope stability calculations. Furthermore, it highlights the superior ability of the hypoplastic model to accurately describe reservoir landslide deformation processes.