<p>This paper investigates the exponential stability of stochastic nonlinear systems with random impulses and time-varying delays. The main contribution is to characterize how time-varying delays affect the stability role of impulses, thereby extending existing results for impulsive systems with constant delays. In the proposed framework, Brownian motion is incorporated into the continuous dynamics and is coupled with random impulse intensities and time-varying delays, which increases the complexity of the stability analysis. By using stochastic analysis and the Lyapunov method, sufficient criteria for uniform exponential stability are established. The results show that variations in the delay may change the effective role of impulses from stabilizing to destabilizing, and this effect can be further influenced by Brownian perturbations. Moreover, stability can still be guaranteed within a restricted domain of attraction determined by the noise intensity and delay bound, even in the presence of destabilizing impulses. Finally, two numerical examples are provided to illustrate the effectiveness of the theoretical results.</p>