This paper aims at the delay compensation for the abstract linear system (A,B,C). Both the input delay and output delay are investigated. We first propose a full state feedback control to stabilize the system (A,B) with input delay and then design a Luenberger-like observer for the system (A,C) in terms of the delayed output. We formulate the delay compensation in the framework of regular linear systems. The developed approach builds upon an upper-block-triangle transform that is associated with a Sylvester operator equation. It is found that the controllability/observability map of system (−A,B)/(−A,−C) happens to be the solution of the corresponding Sylvester equation. As an immediate consequence, both the feedback law and the state observer can be expressed explicitly in the operator form. The exponential stability of the resulting closed-loop system and the exponential convergence of the observation error are established without using the Lyapunov functional approach. The theoretical results are validated through the delay compensation for a benchmark one-dimensional wave equation.