Although a series of decoupled or single loop methods have been developed for reliability-based design optimization (RBDO) problems to improve the computational efficiency, it seems hard to extend these strategies to time-variant RBDO due to the complexity of the problems brought by the involvement of time. This paper proposes a new approach for time-variant reliability-based design optimization, expecting to provide an efficient tool for design of some complex structure under time-variant uncertainties. The main idea of the proposed method is the definition of the equivalent most probable point (EMPP). With the EMPP, the original time-variant RBDO problem can be transformed into an equivalent time-invariant RBDO problem formulated by performance measure approach (PMA). Hence, the existing PMA-based time-invariant RBDO methods can be applied to solve the equivalent problem. Therefore, those RBDO methods can be easily extended to time-variant RBDO problems, and hence the computational cost can be effectively reduced. Finally, two numerical examples and an engineering application are used to demonstrate the effectiveness of the proposed method.