The paper addresses a practical issue in adaptive fault tolerant synchronization of master-slave systems with a constant signal propagation delay and actuator faults. First, a new concept of chaos synchronization is proposed, where the real value of the propagation delay can be estimated online by a proper adaptation mechanism; then, a novel adaptive fault estimation algorithm is proposed which removes the classical assumption that the time-derivative of the output errors should be known. Further, based on a proper Lyapunov-Krasovskii function, a novel delay-dependent adaptive fault tolerant synchronization scheme is proposed where the synchronization criterion is derived. Finally, simulation results of the chaotic system demonstrate the effectiveness of the proposed approach.