In accordance with an embodiment, described herein is a system and method for supporting dynamic security configuration in a multitenant application server environment. Common configuration changes required for partition level security can be made without requiring a server restart, such as for example, adding a new security realm for a partition; deleting an existing realm; changing the configuration on an existing realm; adding or removing a security provider to a realm; or changing the configuration of a security provider. In accordance with an embodiment, also described herein is a system and method for supporting dynamic reconfiguration in a multitenant application server environment. Attributes of partition management components, for example managed beans (MBeans) and child MBeans contained within a partition, can be made dynamic and annotated accordingly, so that a restart of servers is not required for configuration changes to those attributes for a particular partition.