A total of 27 athletes entered the prelims with a top 18 finish needed to advance to Saturday’s semi-final but the 25-year-old finished 19th with a points total of 268.15 – just four behind Australia’s Anabelle Smith, who finished in the last qualifying spot.
China’s Shi Tingmao finished first with a points total of 350.45.
After a solid dive in the first round, Reid then missed her second dive – a Forward 3½ Somersaults, Pike – and scored just 35.65 points, although she finished strongly with a Forward 2½ Somersaults, 1 Twist, Pike, that netted her a programme-high of 63.00 points.
There was also disappointment for her Team GB colleague Scarlett Mew Jensen, who finished on 243.25 points and also missed out on the semis after placing 22nd in the prelims.
Admitting it was frustrating, Reid said afterwards: “I'm so disappointed and it is obviously not the result I was hoping for. I made a costly mistake in the second round but fought all the way to the end. I gave it everything but it just wasn't enough.
"The depth within that event is so strong, it's amazing. You just can't afford to make a mistake like that when the other girls are diving to that level.
"I just wasn't able to showcase what I wanted to."
Reid did pay tribute to the support from family and friend, adding: "It has been so special and it is a wonder these Games went ahead and are as safe as they are.
"To be part of this will go down in the history books and to be part of Team GB is always such an honour.
"I'm so sorry that is what I had to show for all the hard work everyone has put in behind me. It is not what I wanted, but I appreciate all the support no matter what."
Reid and Katherine Torrance finished ixth in the Women’s synchronised 3m springboard final last weekend, with 269.10 points.