This paper presents a bi-parameters structural vulnerability analysis method with the damage consequence and the relative magnitude of the damage scenarios to the structural system as two parameters.The proposed method was applied to the study of the cable-stayed bridge vulnerability to cable failure scenarios by taking the minimum stability factor and the maximum stress safety factor of the main girder as the structural performance measurements.A case study was made of the cable-stayed bridge to illustrate the proposed method.The vulnerable scenarios with a higher consequence but lower magnitude were found.The simulation revealed the structural sensitivity to cable failure scenarios.The analysis results can thus be referenced for designing the structural members to be monitored and the sensor allocation of a structural monitoring system.