IEEE 802.15.4 is a new standard uniquely designed for low-rate wireless personal area networks. It targets ultralow complexity, cost, and power for low-rate wireless connectivity among inexpensive, portable, and moving devices. IEEE 802.15.4 provides a guaranteed time slot (GTS) mechanism to allocate a specific duration within a superframe for time-critical transmissions. This paper proposes an adaptive GTS allocation (AGA) scheme for IEEE 802.15.4, which considers low latency and fairness. The scheme is designed based on the existing IEEE 802.15.4 medium access control protocol, and IEEE 802.15.4 devices can receive this AGA service without any modification. A simulation model and an analytical model are developed to investigate the performance of our AGA scheme. The numerical results show that the proposed scheme significantly outperforms the existing IEEE 802.15.4 implementation.