This paper considers the guaranteed cost control problem for a class of uncertain discrete T-S fuzzy systems with time delay and a given quadratic cost function. Sufficient conditions for the existence of such controllers are derived based on the linear matrix inequalities (LMI) approach by constructing a specific nonquadratic Lyapunov-Krasovskii functional and a nonlinear PDC-like control law. A convex optimization problem is also formulated to select the optimal guaranteed cost controller that minimizes the upper bound of the closed-loop cost function. Finally, numerical examples are presented to demonstrate the effectiveness of the proposed approaches.