Improving the reliability or long-term dependability of a system requires a different approach from the previous emphasis on short-term concerns. The purpose of this paper is to present a reliability evaluation method for an oil cooler intended for high-precision machining centers. The oil cooler system in question is a cooling device that minimizes the deformation caused from the heat generated by driving devices. This system is used for machine tools and semiconductor equipment. We predicted the reliability of the system based on the failure rate database and conducted the reliability test using a test-bed to evaluate the life of the oil cooler. The results provided an indication of the reliability of the system in terms of the failure rate and the MTBF of the oil cooler system and its components, as well as a distribution of the failure mode. These results will help increase the reliability of oil cooler systems. The evaluation method can also be used to determine the reliability of other machinery products.