This paper is concerned with the stabilization problem for a class of switched linear parameter‐varying (LPV) systems with Markovian jump parameters whose transition rate is completely unknown, or only its estimated value is known. Firstly, a new criterion for testing the stochastic stability of such systems is established. Then, using the multiple parameter‐dependent Lyapunov function method, we design a parameter‐dependent state‐feedback controller for individual switched LPV subsystem to guarantee stochastic stability of the closed‐loop switched LPV systems with Markovian jump parameters under uncertain transition rates. Finally, as an application of the proposed design method, the stabilization problem of a turbofan‐engine which cannot be handled by the existing methods is investigated.