In this paper, we propose an efficient reliability based segmentation-discarding decoding (SDD) algorithm for short block-length codes. A novel segmentation-discarding technique is proposed along with the stopping rule to significantly reduce the decoding complexity without a significant performance degradation compared to ordered statistics decoding (OSD). In the proposed decoder, the list of test error patterns (TEPs) is divided into several segments according to carefully selected boundaries and every segment is checked separately during the reprocessing stage. Decoding is performed under the constraint of the discarding rule and stopping rule. Simulations results for different codes show that our proposed algorithm can significantly reduce the decoding complexity compared to the existing OSD algorithms in literature.