The key management is the central element of network security. In fact, key distribution is necessary for securing applications in the context of Internet of Things (IoT). However, existing key management protocols are not directly applicable on IoT due, among other things, to severe and high resource constraints of some devices that make up the IoT network. Therefore, it is necessary that the proposed key management protocols takes in charge these constraints. In this paper, we propose a new lightweight Matrix based key management protocol for Iot network. The formal verification tool AVISPA has been used in order to check these security properties like authentication, integrity and secrecy. Security and performance analysis show that the proposed scheme protects user's sensitive data from several types of attacks by achieving secure end-to-end communication, and is suitable for resource-limited networks.