In this study, thermal post-buckling characteristics of functionally graded (FG) panels in hypersonic airflows are investigated. The volume fraction and the material properties of FGMs are continuously changed from ceramic to metal in the thickness direction agreeably to a simple power law distribution and a linear rule of mixture, respectively. Using the principle of virtual work, the governing equations are derived and the finite element method is applied to obtain the solutions. Based on the first-order shear deformation theory (FSDT), the FG panels are modeled by the von Karman strain-displacement relation for the structural non-linearity. Also, the third-order piston theory is employed to consider the aerodynamic non-linearity.