A formation control problem for second‐order multiagent systems with time‐varying delays is considered. First, a leader‐following consensus protocol is proposed for theoretical preparation. With the help of Lyapunov‐Krasovskii functional, a sufficient condition under this protocol is derived for stability of the multiagent systems. Then, the protocol is extended to the formation control based on a multiple leaders’ architecture. It is shown that the agents will attain the expected formation. Finally, some simulations are provided to demonstrate the effectiveness of our theoretical results.