A new mixed-voltage I/O buffer for low-voltage low-latency operation is proposed in this paper. The proposed buffer adopts a novel delay-based timing-control scheme to efficiently avoid problems like gate-oxide stress and hot-carrier degradation. The proposed timing-control scheme also allows the buffer to have a lower latency for transmitting data by avoiding the use of timing-critical circuits like series-connected transmission gates (TGs) and triple-stacked transistors. The latency for receiving data at low supply voltage is also reduced by employing a variable stacked transistor gate-biasing scheme. Comparison results in an 80-nm CMOS process indicated that the proposed mixed-voltage I/O buffer improved up to 79.3% for receiving the external data and up to 23.8% for transmitting the internal data at a supply voltage of 1.2 V.