This paper is concerned with regional stability analysis and regional stabilization of time-delay systems subject to both actuator saturation and delay. By using a novel Lyapunov-Krasovskii functional, the corresponding conditions for regional stability and stabilization are derived. The free parameters in the solutions are optimized to maximize the domain of attraction of the closed-loop system. It is shown that, even in the absence of actuator delay, the obtained result is less conservative than the existing results. Two numerical examples are presented to illustrate the effectiveness of the proposed approach.