The stability problem for the uncertain time‐varying delayed neutral‐type system is concerned in this paper. By introducing a novel Lyapunov‐Krasovskii functional (LKF) related to a delay‐product‐type function and two delay‐dependent matrices, some new delay‐dependent robust stability sufficient conditions are derived, which are based on convex linear matrix inequality (LMI) framework. The sufficient conditions in this paper can reduce the conservativeness of some recent previous ones. In the end, some numerical examples, including a linear neutral‐type system, the partial element equivalent circuit and a general linear system, show the effectiveness of the proposed method.