A discrete predator–prey model with delayed density dependence in the rate of growth of the prey is considered. In particular, we analyze the model presented by Kot [2005] which consists of three coupled difference equations and contains two parameters. Existence and local stability analysis of fixed points of the model are addressed. The normal form technique and perturbation method are applied to the different types of bifurcations that exist in the model being investigated. It is proved that the existence of transcritical and Neimark–Sacker bifurcations can occur in the model. In addition, the chaotic behavior of the model in the sense of Marotto is proved. To verify the results obtained analytically, we perform numerical simulations which also explore further the richer dynamics of the model.