This paper presents a new generalized model of hematopoiesis with multiple time-varying delays. The main purpose of this paper is to study the existence and the global exponential stability of the positive pseudo almost periodic solutions, which are more general and complicated than periodic and almost periodic solutions. Under suitable assumptions, and by using fixed point theorem, sufficient conditions are given to ensure that all solutions of this model converge exponentially to the positive pseudo almost periodic solution for the considered model. These results improve and extend some known relevant results.