Abstract We introduce a new congestion control algorithm for high-speed networks, called TCP-Illinois. TCP-Illinois uses packet loss information to determine whether the window size should be increased or decreased, and uses queueing delay information to determine the amount of increment or decrement. TCP-Illinois achieves high throughput, allocates the network resource fairly, and is incentive compatible with standard TCP. We also build a new stochastic matrix model, capturing standard TCP and TCP-Illinois as special cases, and use this model to analyze their fairness properties for both synchronized and unsynchronized backoff behaviors. We finally perform simulations to demonstrate the performance of TCP-Illinois.