Safe and smooth robot motion around obstacles is an essential skill for autonomous robots, especially when operating around people and other robots. Conventionally, due to real-time operation requirements and onboard computation limitations, many robot motion planning and control methods follow a two-step approach: first construct a (e.g., piecewise linear) collision-free reference path for a simplified robot model, and then execute the reference plan via path-following control for a more accurate and complex robot model. A challenge of such a decoupled robot motion planning and control method for highly dynamic robotic systems is ensuring the safety of path-following control as well as the successful completion of the reference plan. In this paper, we introduce a novel dynamical systems approach for online closed-loop time parametrization, called $\textit{a time governor}$, of a reference path for provably correct and safe path-following control based on feedback motion prediction, where the safety of robot motion under path-following control is continuously monitored using predicted robot motion. After introducing the general framework of time governors for safe path following, we present an example application for the fully actuated high-order robot dynamics using proportional-and-higher-order-derivative (PhD) path-following control whose feedback motion prediction is performed by Lyapunov ellipsoids and Vandemonde simplexes. In numerical simulations, we investigate the role of reference position and velocity feedback, and motion prediction on path-following performance and robot motion.