This paper addresses the asymptotical stability of neutral time-varying delay systems with nonlinear perturbations. Based on the new Lyapunov-Krasovskii functional with delay decomposition approach, integral inequality approach and convex optimization algorithms, the information of the delayed plant states can be taken into full consideration, and new delay-dependent stability criteria for the system are established in terms of linear matrix inequalities (LMls). The constraint on the derivative of the time-varying delay is not required, which allows the time-delay to be a fast time-varying function. Finally, two numerical examples are given to illustrate the effectiveness and an improvement over some existing results in the literature with the proposed results.