Numerous　engineering　systems　are　designed　to　be　performance　sharing　systems　with　multiple　interdependent　performances.　Motivated　by　practical　engineering　systems,　in　this　study,　a　multi-performance　sharing　and　multistate　system　(MPSMS)　with　performance　interdependence　was　modeled.　The　model　includes　a　feasible　operating　region　(FOR)　considering　the　interdependent　operation　constraints　of　the　components.　Moreover,　a　multiperformance　sharing　mechanism　including　performance　sharing　limits　and　performance　conversion　efficiency　was　developed.　Furthermore,　an　approach　combining　Markov　process　model　and　extended　Lz-transform　technique　was　adopted　to　develop　unified　representations　of　the　dynamic　reliability　models　of　the　considered　MPSMSs.　Dynamic　reliability　indices　including　the　time-varying　reliability　and　the　expected　instantaneous　performance　deficiency　(EIPD)　were　evaluated　through　four　case　studies　to　validate　the　developed　model　and　approach.