This paper studies fault estimation and fault-tolerant control problems for fuzzy systems with exogenous disturbance and stochastic noise. The fuzzy reduced-order intermediate variable observers and the disturbance observers are proposed to reconstruct the sensor fault, the actuator fault and the disturbance. According to the estimated results, the observer based fault-tolerant controllers are devised. Compared with the full-order observer design method, the designed reduced-order observers are with lower dimensions and less cost. Different from the classic intermediate observer, the feedback term of the output estimation error is introduced into our observers, which increases the design freedom. And the obtained linear matrix inequality conditions can ensure that the whole closed-loop systems are mean-square exponentially stable. Finally, two examples are offered to verify the feasibility of the proposed method.