In this paper, the high-order moment method (HOMM) was developed for estimating pile foundation bearing capacity reliability assessment. Firstly, after the performance function was established, the first four moments (viz. mean, variance, skewness, and kurtosis) were suggested to be determined by a point estimate method based on two-dimensional reduction integrations. Then, the probability distribution of the performance function for the pile foundation bearing capacity was then approximated by a four-parameter cubic normal distribution, in which its distribution parameters are the first four moments. Meanwhile, the quantile of the probability distribution for the performance function and its reliability index was capable to be obtained through this distribution. In order to examine the efficiency of this method in engineering application, four pile foundations with different length-diameter radios were investigated in detail. The results demonstrate that the reliability analysis based on HOMM is greatly improved to the computational efficiency without loss precision compared with Monte Carlo simulation (MCS) and does not require complex partial derivative solving, checking point sought, and large numbers of iteration comparing with first-order reliability method (FORM). Moreover, the probability distribution function (PDF) approximated by the four-parameter cubic normal distribution was found to be consistent with that obtained by MCS. Eventually, the effects of parameter sensitivity for relative soil layer of the certain pile on reliability index were illustrated using the above-mentioned method. It indicated that the HOMM is an effective and simple approach for reliability assessment of the pile foundation bearing capacity.