This paper presents a flexible fault-tolerant topology with fault-diagnosis, fault-tolerant control strategy for diverse open-circuit faults occurring in the switched reluctance motor (SRM) electric drive system under different working conditions. The common H-bridge has been selected as a fault-tolerant topology, although it is not commonly used in SRM drive system compared with traditional asymmetric half bridge topology. However, its inherent tolerant power switches provide the possibility to traverse faults under multiple open-circuit faults. When the SRM-driving system is subjected to open-circuit faults, the fault-diagnosis can be achieved by detecting the characteristic of the real-time phase currents, and then the faulty switches can be replaced automatically by the corresponding reverse ones to sustain the driving operation with further optimized output torque. The fault-tolerant control strategy is based on the current soft chopping control (CSCC), which is easy to realize and can compensate for the missing phase torque in the maximum range under open-circuit faults. Furthermore, the fault-tolerant strategy was applied to a three-phase 12/8 SRM drive, and simulation results on 35 kW SRM drive system validate the effectiveness of the proposed strategy.