Abstract: In this paper, the stability and stabilization problems of a class of networked control systems (NCSs) with bounded packet dropout are investigated. An iterative approach is proposed to model the NCSs with bounded packet dropout as Markovian jump linear systems (MJLSs). The transition probabilities of MJLSs are partly unknown due to the complexity of network. The system under consideration is more general, which covers the systems with completely known and completely unknown transition probabilities as two spacial cases. Moreover, both sensor-to-controller and controller-to-actuator packet dropouts are considered simultaneously. Sufficient conditions for stochastic stability and stabilization of the underlying systems are derived via linear matrix inequalities (LMIs) formulation. Lastly, two illustrative examples are given to demonstrate the effectiveness of the proposed results.