For CMOS feature size of 65 nm and below, local (or intra-die or within-die) variations in transistor Vt contribute stochastic variation in logic delay that is a large percentage of the nominal delay. Moreover, when circuits are operated at low voltage (Vdd ?? 0.5 V), the standard deviation of gate delay becomes comparable to nominal delay, and the Probability Density Function (PDF) of the gate delay is highly non-Gaussian. This paper presents a computationally efficient algorithm for computing the PDF of logic Timing Path (TP) delay, which results from local variations. This approach is called Non-linear Operating Point Analysis for Local Variations (NLOPALV). The approach is implemented using commercial STA tools and integrated into the standard CAD flow using custom scripts. Timing paths from a 28 nm commercial DSP are analyzed using the proposed technique and the performance is observed to be within 5% accuracy compared to SPICE based Monte-Carlo analysis.