The invention discloses an improved asynchronous motor model reference adaption rotating speed estimation method and an apparatus thereof. The method comprises the following steps of constructing an asynchronous motor model reference adaption control system model, wherein the asynchronous motor model reference adaption control system model includes a voltage module, a current module and an adaptive link; through the voltage module, calculating a rotor flux linkage reference estimation value of an induction motor; through the current module, calculating a rotor flux linkage adjustment estimation value of the induction motor; and through the adaptive link, according to a difference of the rotor flux linkage reference estimation value and the rotor flux linkage adjustment estimation value, calculating a rotor estimation rotation speed. In the prior art, a truncation error exists in asynchronous motor model reference adaption rotating speed estimation and a workload is large. By using the method and the apparatus of the invention, the above technical problems are solved.