In this letter, delay-dependent stability criterion for linear time-delay systems with multiple time varying delays is proposed by employing the Lyapunov-Krasovskii functional approach and integral inequality. By the N-segmentation of delay length, we obtain less conservative results on the delay bounds which guarantee the asymptotic stability of the linear time-delay systems with multiple time varying delays. Simulation results show that the proposed stability criteria are less conservative than several other existing criteria.