The frame beam anchor plate is a new supporting structure reinforcing fill slopes. At present, only a few studies have evaluated its static stability based on the two-dimensional plane assumption. In this paper, the limit analysis method is combined with the three-dimensional spiral failure mechanism to evaluate the factor of safety (Fs) of a slope supported by a frame beam anchor plate. The pseudo-static approach is used to express the seismic effects. When calculating the internal energy dissipations, both the pull-out failure of anchor plates and tensile failure of tie rods are considered. The accuracy of the approach is verified by comparison with calculation results from the finite element method. Parameter analysis summarizes the influence law of each supporting structure design parameter on the Fs. Therefore, this study develops a theoretical basis for evaluating slope stability reinforced by frame beam anchor plates, which can better guide the design of slopes reinforced by this supporting structure.