In this paper, the nonlinear conjugate map is applied based on the conjugate Hasofer-Lind and Rackwitz- Fiessler (CHL-RF) method to evaluate the reliability index using the first order reliability method of the embedded nanocomposite beam, which is made of a polymer reinforced with carbon nanotubes (CNTs). The structure is simulated with the Timoshenko beam model. The Mori-Tanaka model is applied for calculating the effective material properties of the nanocomposite beam and the surrounding elastic medium is considered as spring and shear constants. The governing equations are derived based on the energy method and the Hamilton's principle. Moreover, using an analytical method, the buckling performance function of the structure is obtained. The effects of the basic random variables including the length-to-thickness ratio of the beam (L/h), the spring constant, and the shear constant of the foundation with respect to the volume fraction of CNTs are investigated based on the reliability index of the nanocomposite beam which is subjected to an axial force of 20 GPa. The results indicate that the failure probabilities of the studied nanocomposite beams are sensitive to the length-to-thickness ratio of the beam (L/h) and the spring constant of the foundation variables.