In the study, a probabilistic analysis of foundation settlement is performed for a layered soil profile. Uncertainty in unloading-reloading stiffness (Eur) is incorporated in the numerical analyses, most of the concern is directed toward geotechnical engineering properties of soils and to delineate the soil stratigraphy. To ensure greater precision, the random finite element method (RFEM) was used in the study. Random fields in combination with the advanced material model (hardening soil model) are utilized to model soil properties. The influence of spatially variable unloading-reloading stiffness (Eur) on settlement was investigated. Consequently, the resulting foundation settlement is characterized by spatially variable unloading-reloading stiffness (Eur) parameters. For this purpose, settlement prediction and settlement distributions were obtained by using the Monte Carlo method in combination with the ZSoil and MATLAB software. Finally, validation was performed using the analytical method with the available literature, and in addition to that, the effect of the assumed modulus coefficient of variation on the resulting settlement distributions was conducted. The obtained results are promising for further applications of the proposed approach in probabilistic settlement analysis by means of Hardening Soil model.