This paper is concerned with the problem of exponential stability for a class of stochastic neural networks with Markovian switching and mode-dependent interval time-varying delays. A novel Lyapunov-Krasovskii functional is introduced with the idea of delay-partitioning, and a new exponential stability criterion is derived based on the new functional and free-weighting matrix method. This new criterion proves to be less conservative than the most existing results. Numerical examples are presented to illustrate the effectiveness of the proposed method.