A system for analyzing a mean time between failures (MTBF) of an electronic product is disclosed. The system includes a database (10) comprising a plurality of bill of material (BOM) tables (100) that stores data on components of the electronic product; and a computer (3) installed with a spreadsheet (300) for analyzing the MTBF of the electronic product. The computer includes: a data importing module (301) for importing the data stored in the BOM tables to the spreadsheet; a reliability analyzing module (302) for classifying the data in the spreadsheet, analyzing the reliability of the electronic product by calculating the MTBF of the electronic product in the spreadsheet, and for generating a reliability prediction report; and a report outputting module (303) for outputting the reliability prediction report to an output device (40). A related method is also disclosed.