An approach for stress analysis of multilayered composite cylinders is proposed for the analysis of new composite risers used in deep-water oil production of offshore petroleum industries. Risers essentially comprise long cylindrical sections connected end-to-end. In the formulation, only stresses and strains that are continuous through the thickness of the multilayered composite risers are taken to be equal to reported solutions for homogenous orthotropic hollow cylinders using homogenized material properties. These stress and strain solutions are then used to calculate the remaining discontinuous stresses and strains from the material properties of individual layers of materials. The homogenized elastic constants of cylindrically orthotropic composite risers are derived from force-deformation equivalence, taking into account the stress and strain distributions in each layer. Four typical loading conditions are considered in the stress analysis, namely, internal and external pressures, axial loading, bending, and torsion. Examples of homogenized elastic constants and stress analyses of composite cylindrical structures with different layups and materials are presented to demonstrate the application of the proposed method. The results compared very favorably with those from other solutions. This method provides practical benefits for the design and analysis of composite risers. Because there is no requirement to explicitly enforce interfacial continuity in this method, stress analyses of composite cylinders with many layers of different fiber angles or materials can be carried out efficiently. The homogenized elastic constants can greatly expedite the analysis of entire composite riser systems by replacing complex models of riser sections with homogenized riser sections.