The invention discloses a fault-tolerant control method for a two-phase open-circuit fault of a five-phase permanent magnet synchronous motor based on SVPWM (Space Vector Pulse Width Modulation), which comprises the step that the algorithm calculates to obtain a corresponding voltage space vector through constructing a reduced-order matrix after the fault. The synthesis of a reference vector is realized by the division of six sectors and the reconstruction of six non-zero voltage vectors. The fault-tolerant control method is similar to the control of a three-phase motor under normal working conditions, is simple to calculate and easy to implement. The fault-tolerant control method can greatly reduce the torque ripple caused by an open-circuit fault of a stator winding while ensuring the average torque, enables the five-phase PMSM (Permanent Magnet Synchronous Motor) to be obviously improved in operation performance under the fault state, and effectively improves the reliability of a speed regulation system. Simulation and experimental results show that high-quality operation of a five-phase motor driving system under the two-phase open-circuit fault can be realized by adopting thefault-tolerant control strategy.