We study the notion of polynomial-time relation reducibility among computable equivalence relations. We identify some benchmark equivalence relations and show that the reducibility hierarchy has a rich structure. Specifically, we embed the partial order of all polynomial-time computable sets into the polynomial-time relation reducibility hierarchy between two benchmark equivalence relations Eλ and id. In addition, we consider equivalence relations with finitely many nontrivial equivalence classes and those whose equivalence classes are all finite.