This paper presents an improved stability criterion for load frequency control (LFC) of time-delay power systems including AC/HVDC transmission links and EVs. By employing a novel refined Jensen-based inequality, an improved stability condition is derived in terms of feasible linear matrix inequalities (LMIs) which allow us to compute the maximal upper bounds of time-delay ensuring stability of the LFC scheme equipped with an embedded controller. Cases studies here are implemented for LFC scheme of a two-area power system, which is interconnected by parallel (AC/HVDC) links, with embedded proportional integral (PI) controller for discharged EVs. The relationships between the parameters of PI controller, supplementary control of HVDC links and delay margins of the LFC scheme are also discussed. As a consequence of facts, the results of delay margins can be used as a guideline to tune PI controller and set-up parameters for HVDC control.