A method for the design of non-homogeneous, variable-thickness, annular disks under internal and external pressures satisfying Tresca yield criterion is presented in this paper. The effects of varying the disk thickness and stiffness properties to achieve a fully stressed design are investigated. Analytical solutions for distributions of Young’s modulus and disk thickness variations have been developed for the case of fully stressed designs. Examples are given for three different cases, namely, constant thickness with variable Young’s modulus, variable thickness with constant Young’s modulus, and variable thickness with variable Young’s modulus. In the last case, due to the existence of many alternative solutions, optimal design techniques have been utilized and the results are presented.