The present invention provides a method and system for calculating a security index of an application hosted in a cloud environment. The application is mapped to a cloud service provider of the cloud environment, and a set of security controls and a set of security metrics applicable for the application are identified. The set of security controls and the set of security metrics are encapsulated into a security profile object by a security control module. A set of values of the set of security metrics are retrieved from the cloud service provider, by a cloud probe module, and the security index of the application is calculated.