The time delay with random characteristics in networked control systems will reduce the control performance of the system. In order to improve the control performance of system, a predictive control compensation strategy for time delay in networked control systems based on time-stamp and improved implicit generalized predictive control algorithm is proposed. Firstly, the improved implicit generalized predictive control algorithm is used to calculate the control law according to the system historical output and control variable. Because the soft coefficient matrix and the input weighted control law with smoothing filtering are introduced, this improved implicit generalized predictive control algorithm reduces computation time and improves performance. Then, the data buffer is designed in sensor and actuator node. The sensor buffer stores and updates the system output, and sends it to the controller. The actuator buffer stores the control variable and selects the reasonable control variable from the control law according to time-stamp in the packet, and applies it to the controlled object. Finally, the effectiveness of predictive control compensation strategy for time delay in networked control systems in this paper is verified through different simulation conditions. The simulation results show that the proposed compensation strategy in this paper has good control and compensation effect, improve the output performance of the system, and ensure the stability of the control system. The simulation results also show that the compensation strategy needs less computing time and is more suitable for practical applications.