When a five phase permanent magnet synchronous motor encounters an open circuit fault during operation, its steady-state performance of fault-tolerant control is insufficient. This study designs a MPTC control scheme that integrates model predictive torque control (MPTC) and space vector modulation (SVM) technology. Under open-circuit fault (OCF) conditions, a mathematical model was developed for the five-phase permanent magnet synchronous motor (PMSM) drive system. Model predictive torque control (MPTC) and space vector modulation (SVM) were integrated to implement coordinated multi-subspace control. To mitigate harmonic voltage effects, switching states producing elevated α − β subspace voltage vectors are designated candidate vectors. In the synthesis stage of voltage vectors, any two voltage vectors in the quadrant where the expected voltage vector is located are defined as effective voltages. Based on this, the voltage vector selection strategy adopts space vector modulation (SVM) technology. The optimal synthesis of vectors was achieved by optimizing the cost function, and the efficiency of the proposed control strategy was confirmed through experimental methods. Experimental data shows that this control method does not require additional control units and can achieve comprehensive control of the fundamental frequency and harmonic subspace. Simultaneously, the strategy delivers targeted transient response characteristics, enhances steady-state operational performance, and demonstrates robust fault-tolerant control capabilities.