ABSTRACT Mission reliability evaluation of high‐performance unmanned aerial vehicle (UAV) swarms faces significant challenges because of their tightly coupled mission profiles, dynamic reconfiguration mechanisms, and heterogeneous node interactions. Traditional reliability models fail to capture these complexities, particularly the impact of mission reconstruction on the UAV swarm adaptability. To address this gap, we propose a novel mission reliability evaluation framework that integrates an effective mission loop analysis and dynamic network reconfiguration. First, we analyzed the system composition and interaction of high‐performance UAV swarms and designed a mission reliability evaluation model based on effective mission loops. Second, we developed a dynamic reconstruction algorithm to autonomously reconfigure the swarm topology in response to node/edge failures, ensuring sustained operational capability. Third, by integrating the reliability evaluation model with the reconstruction algorithm, we built a high‐performance UAV swarm mission reliability evaluation method that explicitly incorporates mission reconstruction. A case study of a 10‐UAV swarm strike mission validated the proposed framework. The results demonstrate its effectiveness in mission reliability evaluation of high‐performance UAV swarms, with potential extensions to heterogeneous aviation systems.