In view of the cumbersome process of multi-loop PI parameter tuning for permanent magnet synchronous motor (PMSM) speed control systems, which makes it difficult to achieve an overall optimal balance between system rapidity and smoothness, a design method for current and speed loops based on the optimized ITAE criterion is proposed. Firstly, a penalty factor is introduced into the traditional second-order and third-order ITAE target integral functions to optimize the model to improve dynamic quality. The optimized ITAE model has a smaller overshoot and shorter settling time in the step response, and the phase margin is also increased. Then, the PMSM vector control system is modeled, and an analytical calculation method for the parameters of the PMSM current and speed loop controllers based on the optimized ITAE normalized transfer function is given. Simulation studies are carried out in the Matlab/simulink environment. The simulation results show that the step response of the PMSM speed control system designed based on the optimized ITAE criterion has a fast and smooth dynamic transition process, and has strong resistance to load disturbances and good parameter robustness.