In conventional model predictive control, the dimensions of the control variables are different from each other, which makes adjusting the weighted factors in the cost function complicated. This issue can be solved by adopting the model predictive flux control. However, the performance of the electromagnetic torque is affected by the change of the cost function. A novel model predictive torque control of the interior permanent magnet synchronous motor is presented in this paper, and the cost function involving the excitation torque and reluctance torque is established. Combined with the model predictive flux control and discrete space vector modulation, the current ripple and torque ripple are reduced. The performance of torque under an overload condition is superior to model predictive flux control. The effectiveness of the proposed algorithm is verified by the simulation and experimental results.