Although the stability regions of wind turbines in the islanding mode have been widely researched, small-signal modeling of grid-forming wind turbines (GFWTs) in the islanding mode has yet to be explored. In addition, the state-space matrix of the wind turbine system has yet to be fully represented. Therefore, this paper proposes a small-signal modeling of GFWT and a method for identifying the stabilization region of a system with variable parameters. First, small-signal modeling of a GFWT based on virtual synchronous generator control is developed. Second, the bialternate sum matrix approach is used to determine the system stabilization region. The system matrix with multiple variable parameters is first decomposed into the sum of several matrices in this paper. Furthermore, the rotor-side generator control is simplified. It can reduce the dimensionality of the system matrix model. Finally, the simulation shows that the proposed method for determining the stabilization region of the variable system is accurate.