A mathematical approach based on the perturbation theory has been used for axisymmetric stress analysis of a thick conical shell with varying thickness under nonuniform internal pressure. The equilibrium equations have been derived using the energy principle and considering the second-order shear deformation theory (SSDT), which includes shear deformation effects. This system of ordinary differential equations with variable coefficients has been solved analytically using the matched asymptotic expansion method of the perturbation theory. A comparison of the results with the finite-element method and the first-order shear deformation theory shows that the SSDT can predict the displacements and stresses of the shell for a wide range of thicknesses as well with less calculations than other analytical methods such as the Frobenius series method.