Background: The paper presents predictive speed control of induction motor. Material and methods: The structure with finite control set and long prediction horizon was used. The control process is divided into two parts: coarse adjustment and regulation in the area of steady state. Components of penalties for switching the keys of converter and integrating an error have been introduced in order to reduce pulsation velocity and flux near the steady state. Results: The results of simulation studies has been presented. Simulation results obtained for 100%, 25% and 10% of nominal speed are presented. Conclusions: System has the good dynamics, resulting from direct character of this control strategy. But in general this algorithm gives a nonzero steady-state error, in the result of this, that the converter switching states can be changed only at discrete time instant.