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 This paper proposes a model predictive control space vector modulation (MPC-SVM) method for the torque and flux controls of induction motors. The method to synthesize the reference voltage vectors according to pulse width modulation strategy and the model predictive control method that directly uses the space vector modulation method of the conventional matrix converter is described. For the synthesis of reference voltage vectors, voltage vectors synthesized by the SVM are expressed as output voltage vectors of an actual direct matrix converter by calculating output voltage vectors of the direct matrix converter, dividing, expressing, and synthesizing by constant duty ratio. Hence, the reference voltage vector that minimizes the cost function of the torque and flux error within the control period is selected and applied to the actual system. As a result, it is possible to perform the torque and flux control of induction motors using only the MPC controller without a proportional-integral (PI) or hysteresis controller. Even though the proposed control algorithm is more complicated and has lots of computations compare to the conventional MPC, it can predict output voltages of the matrix converter of the SVM method and synthesize the reference voltage vectors. This feature can give the reduction in computations and the change of the control performance through the adjustment of prediction horizon N. The proposed method confirms the validity using the PSIM simulation and the experimental set of the matrix converter.