For a linear periodic system with impulsive action and delay, new approaches to the study of stability were proposed on the basis of the methods of spectral theory of linear operators, direct Lyapunov method, and N.G. Chetaev method for construction of the Lyapunov functions for the periodic linear systems, as well as the perturbation method for construction of the Lyapunov functions. These methods underlie the sufficient conditions for asymptotic stability of the linear periodic systems with impulsive action and delay. We gave some illustrative examples of studying stability of such systems under different assumptions about the dynamic properties of the continuous and discrete components of the impulsive system.