The global asymptotical stability analysis for genetic regulatory networks with time delays is concerned. By using Lyapunov functional theorem, LMIs, and convex combination method, a new delay-dependent stability criterion has been presented in terms of LMIs to guarantee the delayed genetic regulatory networks to be asymptotically stable. The restriction that the derivatives of the time-varying delays are less than one is removed. Our result is applicable to both fast and slow time-varying delays. The stability criterion has less conservative and wider application range. Experimental result has been used to demonstrate the usefulness of the main results and less conservativeness of the proposed method.