A novel simplified predictive control method was proposed for the torque and flux control of induction motor． By introducing a new torque calculation scheme and a multi-step and multi-objective model predictive control strategy，the cost function of torque and flux amplitude was separated． Compared with the traditional model predictive control method，the new method not only reduces the calculation burden but also avoids the influence of weight factor． At the same time，the actual speed in the prediction model was replaced by the observed speed by introducing the sliding mode speed observer，which realizes the speed-sensorless control and avoids many inconveniences brought by the speed sensor． Based on Matlab / Simulink，the simulation results for the speed，torque and current of the motor with the proposed observer and control method were obtained and compared with the traditional field oriented control and direct torque control． The simulation results and the comparison results both verified the effectiveness of the control method．