In this paper, a theoretical model is developed for the stability analysis of composite thin-walled beams with open or closed cross-sections. The present model incorporates, in a full form, the shear flexibility (bending and non-uniform warping), featured in a consistent way by means of a linearized formulation based on the Reissner's Variational Principle. The model is developed using a non-linear displacement field, whose rotations are based on the rule of semi-tangential transformation. This model allows to study the buckling and lateral stability of composite thin-walled beam with general cross-section. A finite element with two-nodes and fourteen-degrees-of-freedom is developed to solve the governing equations. Numerical examples are given to show the importance of the shear flexibility on the stability behavior of this type of structures.