The flexibility of the electrified powertrain system elicits a negative effect upon the cooperative control performance between regenerative and hydraulic braking and the active damping control performance. Meanwhile, the connections among sensors, controllers, and actuators are realized via network communication, i.e., controller area network (CAN), that introduces time-varying delays and deteriorates the control performances of the closed-loop control systems. As such, the goal of this paper is to develop a control algorithm to cope with all these challenges. To this end, the models of the stochastic network induced time-varying delays, based on a real in-vehicle network topology and on a flexible electrified powertrain, were firstly built. In order to further enhance the control performances of active damping and cooperative control of regenerative and hydraulic braking, the time-varying delays compensation algorithm for the electrified powertrain active damping during regenerative braking was developed based on a predictive scheme. The augmented system is constructed and the H_∞ performance is analyzed. Based on this analysis, the control gains are derived by solving a nonlinear minimization problem. The simulations and hardware-in-loop (HIL) tests were carried out to validate the effectiveness of the developed algorithm. The test results show that the active damping and cooperative control performances are enhanced significantly.