This paper investigates the stabilization problem for a class of Lipschitz nonlinear time-delay systems. With the useful information extracted from the Lipschitz nonlinearity of the system and employing a Lyapunov-Krasovskii functional, Linear State Feedback Controller design conditions have been derived and expressed in terms of linear matrix inequalities. The designed state feedback controller ensures closed loop stability of the nonlinear time-delay system. To test the effectiveness of the proposed control methodology, control law is employed for a liquid monopropellant rocket motor with a pressure feeding system.