We have proposed a dispersive formulation of the meshless radial point interpolation method (RPIM) to precisely analyze the unusual wave propagation characteristics of left-handed material (LHM) slabs. To absorb both propagating and evanescent waves, we have implemented the generalized perfectly matched layer (GPML) absorbing boundary condition (ABC) to the meshless method. As the evanescent waves play a significant role in the phenomenon of subwavelength imaging by LHM slabs, the material interfaces have to be correctly treated to accurately simulate the amplification of evanescent waves through the slab. By applying new considerations to the systematic approach of the nondispersive meshless method for accurate modeling of material interfaces, we have obtained a new set of equations for the GPML formulations to update the fields at the interfaces of the LHM slab. Numerical experiments show that the proposed formulations have a considerable impact on improving the accuracy of the meshless method for analysis of the LHM slabs.