To address the problem that the detection time of the motor current analysis method is greater than one phase current cycle during the open circuit fault diagnosis of the insulated gate bipolar transistor (IGBT) of the permanent magnet synchronous motor (PMSM) driver, an model predictive current control (MPCC) based motor current analysis method is proposed, in which the change of the normalized cost function as a detection indicator can effectively shorten the fault detection time within one phase current cycle. At the same time, to address the problem that the change or mismatch of motor parameters will change the output of the cost function in MPCC leading to misdiagnosis, the addition of normalization and counting method in fault location is proposed to further improve the robustness. Finally, it is verified by simulation.