The issue of asymptotic stability is discussed for generalized neutral-type neural networks with time-varying delays. A new stability condition is presented based on the Lyapunov-Krasovskii method and the inequality technique, which is dependent on the amount of delay. The proposed result is given in the form of a linear matrix inequality (LMI). Finally, an example is given to illustrate our result. This result is of great significance in designs and applications of globally stable of generalized neutral-type neural networks.