In this paper, we present RT-P2P, a real-time peer-to-peer (P2P) system that allows applicationlevel end-to-end timing requirements to be satisfied in P2P systems. Key aspects of our RT-P2P infrastructure include a real-time P2P protocol, real-time communication algorithm, and analytical performance models. We analytically establish the timing properties of RT-P2P. Our simulation studies validate the analytical results and demonstrate RT-P2P outperforms the traditional client-server model in large-scale and dynamic system.