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By using an appropriate uncertainty description, a new robust reliability method is presented in the paper for performance analysis and design optimization of guaranteed cost controller of linear parametric uncertain systems. By the method, robust reliability measure of an uncertain controlled system satisfying required performance can be obtained, and the robustness bounds of uncertain parameters can be provided. The optimal guaranteed cost control is carried out by robust reliability based optimization, which makes it possible to make optimal strategies that take both the robustness with respect to uncertainties and control cost into account simultaneously. The presented formulations are within the framework of linear matrix inequality (LMI), and can be implemented conveniently. It is demonstrated by a numerical example that the presented method is effective and feasible.