Abstract: In view of the complicated calculation process of traditional HLRF, the lack of corresponding geometric meaning interpretation of inverse reliability in slope engineering, and the limited service life of mine slopes, an inverse reliability analysis model of mine rock slopes was established based on the optimization model of HLRF. Firstly, the geometric significance of slope inverse reliability was interpreted, and the limit state equation of a slope was obtained by applying the LASSO algorithm based on calculations of FLAC3D. Secondly, HLRF was optimized by the GA-PSO program, and the optimization model (GA-PSO-HLRF) program and the inverse FORM program were written. Finally, the slope’s inverse reliability and reliability analysis were carried out, and the dual index evaluation method of slope stability considering the service life was proposed. The case results show that the inversion of the optimization model for the slope safety factor is 1.049, which is 0.13% different from the design safety factor of 1.05. The optimization model is more accurate and consistent with the inverse FORM. Meanwhile, the optimization model completes the multi-parameter inversion, which can obtain good results. The case results verify the interpretation of the geometric significance of the inverse reliability, and the proposed dual index evaluation method is beneficial for assessing and preventing potential slope disasters.