In this paper, we show an analysis of the global stability of a Curzon–Ahlborn engine considering that the working substance of the engine satisfies the Van der Waals equation of state, which is more general than the ideal gas case. We use the Lyapunov stability theory for the case where the engine operates at a maximum power output. We analyze the steady state of the intermediate temperatures as well as the asymptotic behavior of the performance of the engine. Additionally, we study the relationship between the inherent time delay by analyzing the dynamic properties of the system and the stability of the steady state. We present illustrative graphs of the obtained results. Finally, we include a brief discussion of the obtained results and appropriate conclusions.