An integrated electric drive system includes an electric machine having a first housing and an output shaft, a transmission having a second housing and a drive shaft, and a power electronics module with a third housing and an electronic device configured to provide electric power for the electric machine. The transmission receives an input torque of the output shaft and outputs the same via the drive shaft. The power electronics module is configured to be arranged around the drive shaft. The integrated electric drive system can be installed on an electric vehicle. The integrated electric drive system has a more compact structure with a higher degree of integration, and better heat dissipation capability, facilitating spatial optimization and lightweight design of the electric vehicle.