A three dimensional price system with time delays and impulsive control was constructed, and the change of impulsive control parameters and delays on the stability of stock price was studied. Sufficient and conservative conditions for this system's unstable positive equilibrium to approach asymptotic stability were derived by applying the stability theory of impulsive differential equation. Then the stock financial market arrives at a new stable state in which it can sustainably develop. Numerical simulations results verify the feasibility and validity of impulsive control method, and the accuracy of theoretical results. It is concluded that reasonable impulsive control can effectively realize the stability of the system with time delays.