The invention belongs to the technical field of integrated circuit test, and in particular relates to a circuit and a method for testing reliability of an integrated circuit. According to the core circuit of the testing circuit, auxiliary p-type metal oxide semiconductor field effect transistors (pMOSFETs) and n-type metal oxide semiconductor field effect transistors (nMOSFETs) are connected between every two stages of inverters of a ring oscillator (RO) and between a high level Vdd and low potential Vss, and a switch transistor is plugged in an input and output connecting line. By controlling the grid voltages of the auxiliary transistors and the switch transistor, normal oscillation of the RO can be realized in the core circuit, dynamic stress is applied to complementary metal oxide semiconductor field effect transistors (CMOSFETs) of the RO, and negative bias temperature instability (NBTI), positive bias temperature instability (PBTI) and hot carrier injection (HCI) stresses are respectively applied to the pMOSFETs or the nMOSFETs of the RO. The testing circuit has the functions of: degradation measurement of the pMOSFETs in the RO under the NBTI stress, degradation measurement of the nMOSFETs under the PBTI stress, degradation measurement of the pMOSFETs under the HCI stress, degradation measurement of the nMOSFETs under the HCI stress, and comparison with degradation measurement of the CMOSFETs under the dynamic stress.