The permanent-magnet synchronous motor (PMSM), with the advantages of low energy consumption and stable operation, is considered a green power source to replace gasoline engines. Motor control is the core problem of the electric-drive system, so it is important to study the high-performance motor control algorithm. The traditional PMSM control strategy has problems such as torque pulsation, large overshoot, and parameters which are not easy to adjust. This work proposes a new model-predictive torque control (MPTC) based on multi-objective ranking for these issues. The Romberg observer was utilized to accurately estimate motor flux and torque across a wide range of speeds and ensure optimal performance of the MPTC. The optional voltage vectors were classified using graph theory. The model’s cost function was optimized and the control delay caused by hardware processing was compensated by a modified Euler method. A multi-objective ranking method was used to avoid the offline selection of MPTC weight coefficients. Additionally, one ranking method was used to reduce the complexity of the algorithm for multiple objectives. Based on the simulation results, the newly proposed MPTC method, when compared with traditional approaches, reduced the total harmonic distortion from 2.78% to 2.26%. Torque ripple decreased by approximately 58.4%, and the switching frequency was reduced by 3.05%, lowering the inverter’s switching losses. Therefore, the newly proposed MPTC had faster torque response, reduced computation time, and less torque pulsation, which further improved the dynamic performance of the permanent-magnet synchronous motor.