Evaluation method of reliability of industrial products needs to be improved effectively with the advance of science and technology. This paper introduces a new method, named E-Bayesian estimation method, to estimate failure probability in reliability engineering. The definition of E-Bayesian estimation of the failure probability is provided, moreover, the formulas of E-Bayesian estimation and hierarchical Bayesian estimation of the failure probability were provided, and properties of the E-Bayesian estimation, i.e. relations between E-Bayesian estimation and hierarchical Bayesian estimation, are also provided. Finally, calculation on practical problems shows that the provided method is feasible and easy to perform.