The invention provides an electric power converter system which uses a standard low-priced control processor and is suitable for improving the voltage utilization factor in the output voltage. D-axis and q-axis voltage commands and a rotation angle .theta. defining a voltage command vector on a rotating coordinate system are input to a voltage calculation circuit. The voltage command vector is transformed in a rotating coordinate transformation unit into a .alpha. axis and .beta. axis voltage commands to be defined relative to stationary coordinate system. A judgment unit determines which section contains the voltage command vector, from among three sections on the stationary coordinate system having one axis thereof (.alpha.-axis for example) coinciding with one axis of the three phases. A three phase voltage generation unit then selects a method of calculation on the basis of a result of the section determination, and calculates three phase voltage command values respectively utilizing the .alpha. axis and .beta. axis voltage command values. Since calculation requires only a simple add/subtract and shift operation, a high performance economical power converter system which improves the voltage utilization factor substantially can be realized.