This paper presents a methodology to evaluate the reliability of water distribution systems that can be used in the design phase and for identifying repair works to be carried out on existing systems. The methodology is based on the statistical analysis of dimensionless performance indices (hydraulic performance indices) derived from a large number of simulations of various water system demand scenarios and/or operating conditions. The hydraulic reliability index is assumed as the probability that, under a given operating condition, the hydraulic performance index will be above a certain threshold. Finally, the system's overall reliability (mechanical + hydraulic) is estimated using the overall reliability index, which is defined by the weighted mean of the hydraulic performance indices obtained for the various operating conditions. A case study using this methodology shows the concrete possibilities of applying this approach to a wide spectrum of cases, and the small influence on overall system reliability normally exerted by such events as the failure of links, pipes, and valves.