In this article, a new competitive neural network (CNN) with reaction-diffusion terms and mixed delays is proposed. Because this network system contains reaction-diffusion terms, it belongs to a partial differential system, which is different from the existing classic CNNs. First, taking into account the spatial diffusion effect, we introduce spatial diffusion for CNNs. Furthermore, since the time delay has an essential influence on the properties of the system, we introduce mixed delays including time-varying discrete delays and distributed delays for CNNs. By constructing suitable Lyapunov–Krasovskii functionals and virtue of the theories of delayed partial differential equations, we study the global asymptotic stability for the considered system. The effectiveness and correctness of the proposed CNN model with reaction-diffusion terms and mixed delays are verified by an example. Finally, some discussion and conclusions for recent developments of CNNs are given.