"Feudal" is a western term to describe it. Islamic society had the Iqta system.

To qote Claude Cahen, Iqta beasically is "a form of administrative grant, often (wrongly) translated by the European word “fief”. The nature of the iḳṭāʿ varied according to time and place, and a translation borrowed from other systems of institutions and conceptions has served only too often to mislead Western historians, and following them, even those of the East."

Where as in a feudal system, the lords owned the land, iqta holders were only granted the right to govern (which included the right to the revenue of the land), but also the duty to maintain troops for the sultan. Most iqta holders also did not hold their iqta for life, though it did happen and sometimes the next generation wold even inherit the iqta.