This paper proposes an efficient approach to planning an ALT under scheduled inspections. We aim to simultaneously optimize stress levels, sample allocation, and inspection times for lifetimes that follow log-location-scale life distributions, including Weibull and Lognormal distributions. Such a high-dimension optimization problem is solved by a computationally efficient approach leveraging on the asymptotic equivalence between the selection of sample quantiles for parameter estimation of a location-scale distribution and the selection of the optimal inspection times during an ALT for the same purpose. A numerical example is presented to illustrate the application of the proposed approach, and a sensitivity analysis is performed to investigate the robustness of the optimal ALT plans against misspecification of planning inputs. A computer program coded in the MATLAB Graphical User Interface Design Environment is provided to make our method readily applicable in practice. © 2012 IEEE.