In this paper, we propose a rule that follows a time-varying delay construction method and construct a time-varying delay scheme based on it. This construction scheme is also combined with a polynomial to obtain a novel two-dimensional chaotic model. Both mathematical analysis and experimental results show that the model satisfies the chaos condition. 
Good experimental results have been achieved in complexity analysis, information entropy analysis, and Auto-correlation analysis, and have certain competitiveness. The obtained chaotic model is also applied to the image encryption algorithm. 
The experimental results show that the encryption algorithm has high security and can effectively resist noise attacks, shear attacks, differential attacks.