The objective of the present paper is to develop a stress-based low-volume flexible road pavement design method under seismic conditions. In present paper, the thicknesses of granular layers of pavement have been estimated considering safe bearing capacity of granular subgrade as allowable stress. The pavement in present analysis is considered as two-layered system in which granular layer rests on subgrade which acts as the foundation of pavement. The bearing capacity of subgrade has been estimated considering a circular footing placed on subgrade using Terzhaghi’s theory. The dispersed stress in layered system on subgrade due to wheel load has been estimated using Boussinesq’s approach after transformation of two-layered system by the method of equivalent thickness. The thickness of the granular layer of pavement may be determined by equating the dispersed wheel load stress on subgrade with the safe bearing capacity of subgrade soil. But under seismic condition the bearing capacity of soil changes with increase in horizontal or vertical acceleration and the friction angle of soil. In present paper, the seismic bearing capacity factors for typical friction angle have been calculated for different coefficient of horizontal acceleration on which the severity of earthquake can be characterized. The seismic bearing capacity factors thus obtained have been used for estimation of modified bearing capacity of soil subgrade using pseudo-static approach for estimation of required pavement thickness under seismic conditions. The modified pavement thickness thus obtained has been validated using IITPAVE software for design of flexible road pavement.