High performance induction motor (IM) drive system fed from space vector pulse width modulated (SVPWM) inverter and based on optimal preview control theory is realized. The synthesized control algorithm achieves motor speed control, constant flux control and field orientation control via an optimized control input command contains the synchronous angular speed and the two synchronously rotating components of the stator voltage vector. The novel error system used in building the optimal preview controller can cure the adverse phenomena caused by parameter uncertainty and unmodeled dynamics. With few feature values of the desired and disturbance signals the transient performance can be improved. A laboratory prototype was built and the overall control system is implemented using low cost multifunction data acquisition card (DAC). Where, the SVPWM switching patterns representing the control input command is realized by generating successive sector dependent digital words on DAC digital lines. Accordingly, the storage memory is minimized and the sawtooth carrier generator is eliminated. Extensive experimental results have been carried out to show the effectiveness and applicability of the proposed control system.