This paper is concerned with state-space model based generalized predictive control for networked control systems with time-varying network-induced time delay and packet loss. A new method is proposed to compensate the influences of network-induced time delay and packet loss on control performance by minimal prediction horizon and predictive control vector, respectively. The controller design method is discussed with respect to three cases, which are related to packet loss, network-induced time delay and both of the two former, respectively. Simulation and experimental results are given to show the effectiveness of our proposed method.