Structural design of an asphalt pavement is associated with the multilayer design thicknesses and multiple failure modes. Therefore, multiple design solutions can be obtained in the form of different thickness combinations. The cost of each design solution may be different. This paper shows that a cost-effective design section of the pavement exists. This work focuses on the reliability based cost-effective design methodology considering fatigue and rutting failures. Two parameters, namely asphalt layer and granular layer thicknesses, are taken as the design variables. An automated scheme has been developed to identify the lowest cost design solution by using the simplex method of optimization technique.