The global exponential stability of a class of stochastic nonlinear interconnected large-scale systems with time delay was analyzed based on M-matrix theory, by constructing a vector V function. A criterion was obtained for global exponential stability of the systems by analyzing the stability of differential inequalities. It is concluded that a large-scale system with time delay is described as global exponential stable if the test matrix is an M-matrix, where the test matrix is constructed by employing the coefficient matrices of the system and the solutions of the Lyapunov equations which are interconnected with the system. Since the calculation is simplified, the criterion is easy for application.