This textbook provides the tools for a modern post-graduate introductory course on system reliability theory. It focuses on probabilistic aspects of the theory, including recent results based on signatures, shastic orders, aging classes, copulas and distortion (or aggregation) functions. The reader requires on an introductory knowledge on probability theory and mathematics. The book serves both for graduate students in mathematics and for engineering students in various disciplines as well as students learning survival analysis, network reliability or simple game theory. Included also are brief introductions to the basic aspects of lifetime modelling, shastic comparisons, aging classes, mixtures and copula theory. The book develops this knowledge with worked examples and supplies code for the program R so that students can explore its lessons and techniques.