The author considers a nonlinear Caputo fractional-order delay differential equation (CFrDDE) with multiple variable delays. First, we study the existence and uniqueness of the solutions of the CFrDDE with multiple variable delays. Second, we obtain two new results on the Ulam–Hyers–Mittag–Leffler (UHML) stability of the same equation in a closed interval using the Picard operator, Chebyshev norm, Bielecki norm and the Banach contraction principle. Finally, we present three examples to show the applications of our results. Although there is an extensive literature on the Lyapunov, Ulam and Mittag–Leffler stability of fractional differential equations (FrDEs) with and without delays, to the best of our knowledge, there are very few works on the UHML stability of FrDEs containing a delay. Thereby, considering a CFrDDE containing multiple variable delays and obtaining new results on the existence and uniqueness of the solutions and UHML stability of this kind of CFrDDE are the important aims of this work.