This paper presents a novel adaptive delay-dependent fault-tolerant sliding mode control (SMC) strategy for the class of nonlinear Lipschitz systems with time-varying unknown delays in system states and inputs. A modified integral sliding surface (ISS) based on which the SMC approach is developed using a linear matrix inequality. Lyapunov-Krasovskii stability theory is employed to guarantee asymptotic stability of the closed-loop system such that system states starting from any arbitrary initial conditions with time-varying delays reach the predefined sliding surface in a finite time. It is also proved that states stay on the surface for all subsequent time, and the effects of the actuator’s faults are simultaneously attenuated. Adaptive tuning laws are used to adjust controller parameters and estimate actuators’ faults. The controllers’ structures are more straightforward than the most existing recent fault-tolerant control methods. Simulation results of practical nonlinear inverted pendulum system verified the outstanding merits and capabilities of the proposed scheme in the presence of actuators’ faults and multiple delays in the system states and inputs.