This paper presents the two-, three-, and four-lane transverse reduction factor based on FEA method, probability theory, and the recently actual traffic flow data. A total of 72 composite girder bridges with various spans, number of lanes, loading mode, and bridge type are analyzed with time-varying static load FEA method by ANSYS, and the probability models of vehicle load effects at arbitrary-time point are developed. Based on these probability models, in accordance to the principle of the same exceeding probability, the multi-lane transverse reduction factor of these composite girder bridges and the relationship between the multi-lane transverse reduction factor and the span of bridge are determined. Finally, the multi-lane transverse reduction factor obtained is compared with those from AASHTO LRFD, BS5400, JTG D60 or Eurocode. The results show that the vehicle load effect at arbitrary-time point follows lognormal distribution. The two-, three-, and four-lane transverse reduction factors calculated by using FEA method and probability respectively range between 0.781 and 1.027, 0.616 and 0.795, 0.468 and 0.645. Furthermore, a correlation between the FEA and AASHTO LRFD, BS5400, JTG D60 or Eurocode transverse reduction factors is made for composite girder bridges. For the two-, three-, and four-lane bridge cases, the Eurocode code underestimated the FEA transverse reduction factors by 27%, 25% and 13%, respectively. This underestimation is more pronounced in short-span bridges. The AASHTO LRFD, BS5400 and JTG D60 codes overestimated the FEA transverse reduction factors. The FEA results highlight the importance of considering span length in determining the multi-lane transverse reduction factors when designing two-lane or more composite girder bridges. This paper will assist bridge engineers in quantifying the adjustment factors used in analyzing and designing multi-lane composite girder bridges.