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ABSTRACT This article studies the finite‐time control problem for a class of nonlinear chaotic semi‐Markov jump systems with incomplete transition rates described by the T‐S fuzzy model approach. As a means to depict the dynamical properties pertaining to the examined system, parametric uncertainties, faults, external disturbances and input saturation are taken into consideration. The foremost objective of this study is to come up with a composite control mechanism that effectively rejects and attenuates the repercussions of faults and disturbances. In particular, we primarily built a disturbance observer in order to obtain a precise estimation of the external disturbances. After which, the fault diagnosis observer is designated to effectively estimate the faults. Specifically, a composite reliable control mechanism is developed by fusing the output of the constructed observers with the mode‐dependent fuzzy‐rule based state feedback controller. By employing suitable Lyapunov functions in conjunction with the linear matrix inequality technique, a set of mode‐dependent conditions is derived to ensure the finite‐time stochastic boundedness of the underlying closed‐loop and estimation error systems. Following this, the anticipated controller and observer gain matrices are elicited by resolving the established linear matrix inequalities. Thereafter, intending to ascertain the efficacy and usefulness of accrued theoretical findings, simulation results performed on Chua's circuit system is endowed. [ABSTRACT FROM AUTHOR]