A thermoelastic boundary value problem of a hollow circular disc made of functionally graded materials with arbitrary gradient is analysed. The steady-state temperature distribution is assumed to be the function of the radial coordinate with prescribed temperature at the inner and outer cylindrical boundary surfaces. The material properties are assumed to be arbitrary smooth functions of the radial coordinate. A coupled system of ordinary differential equations containing the radial displacement and stress function is derived and used to get the distribution of thermal stresses and radial displacements caused by axisymmetric mechanical and thermal loads. General analytical solutions of functionally graded disc with thermal loads are not available. The results obtained by the presented numerical method are verified by an analytical solution. The considered analytical solution is valid if the material properties, except the Poisson ratio, are expressed as power functions of the radial coordinate.