The increase in the complexity of engineering and socio-technical systems has limited the use of conventional reliability analysis methods. Among different novel modeling approaches, agent-based modelling (ABM), has gained an increasing interest due to its capabilities and successful application in various fields. More specifically, ABM has gained interest as a modelling and simulation paradigm for the systems comprising of entities with diverse attributes and behaviours and where the operational behaviour of dynamic systems is of importance. However, the literature regarding the use of ABM in system reliability and availability analysis is limited. There is also a lack of lack a step-by-step methodology, where it can be communicated with other researchers easily. In order to take some practical steps towards this goal, the current study explores the feasibility of employing ABM in system reliability analysis, while demonstrating a step-by-step model development approach. A numerical example is given, where an agent-based model is developed in order to estimate the reliability of a multi-component system, the result of which is compared with the existing theoretical solution. The main elements of building an agentbased model are described using unified modelling language (UML) diagrams. The agent-based model is built and implemented on GAMA-Platform which is an object-oriented modelling and simulation development environment.