In this study, the FMEA and FTA for reliability analysis of hybrid rocket motor are performed, that was designed in the Hybrid Rocket Propulsion Laboratory of Korea Aerospace University. In order to carry out these analyses the structure of the hybrid rocket motor is hierarchically divided into 36 parts down to the component level and FMEA is carried out with 72 failure modes. Reliability is assessed based on the FMEA, and the results are used in the FTA to evaluate the overall system reliability. In the FMEA, the relationship between the cause and failure modes, effects and their risk priorities are evaluated qualitatively. 27 failure modes are chosen as those with the critical severity that should be improved with priority. As a result of the FMEA / FTA study, a series of design or material changes are made for the improvement of reliability.