The Steiner Tree Problem with Delays (STPD) is a variant of the well-known Steiner Tree Problem in which the delay on each path between a source node and a terminal node is limited by a given maximum value. We propose a Branch-and-Cut algorithm for solving this problem using a formulation based on lifted Miller-Tucker-Zemlin subtour elimination constraints. The effectiveness of the proposed algorithm is assessed through computational experiments carried out on dense benchmark instances.