Based　on　the　traditional　finite　control　set　single-vector-based　predictive　current　control　(SVB-PCC),　a　two-vector-based　predictive　current　control　(TVB-PCC)　strategy　is　proposed　for　three-level　inverter　in　this　paper.　The　SVB-PCC　strategy　of　a　permanent　magnet　synchronous　motor　(PMSM)　drive　system　powered　by　a　three-level　voltage　source　inverter　(3L-VSI)　applies　only　single　voltage　vector　during　each　fixed　control　period,　which　causes　predictive　current　tracking　control　over-adjusted　or　under-regulated　and　presents　high　torque　ripple.　In　this　new　strategy,　two　switching　sequences　are　selected　in　one　sampling　period　to　decrease　current　ripple　and　balance　neutral　point　(NP)　voltage　of　3L-VSI.　The　method　performs　two　cost　functions　to　select　the　dual　optimal　voltage　vector　and　the　duration　of　each　voltage　vector.　According　to　the　first　cost　function,　the　first　optimal　voltage　vector　is　obtained.　The　second　cost　function　is　used　to　evaluate　the　second　optimal　voltage　vector　and　their　duration,　and　achieve　the　multi-objective　optimization.　According　to　the　characteristic　of　3L-VSI　drive　system,　a　new　predictive　model　of　NP　voltage　balance,　which　contains　two　switching　sequences　and　their　on-off　time　to　calculate　next　period　DC-link　capacitor　voltage,　is　formulated.　In　particular,　this　strategy　designs　multiple　system　constraints　and　control　objectives　to　reduce　switch　losses　and　achieve　better　control　performance　simultaneously.　The　simulation　results　of　PMSM　system　verify　the　effectiveness　and　feasibility　of　the　proposed　method.　©　2019　IEEE.