The matrix converter-based IPMSM drive has 360 Hz virtual DC-bus voltage variations which produce severe stator harmonic currents. To solve this problem, a speed-loop classical periodic controller and two current-loop periodic controllers, including a classical periodic controller and a selective harmonic controller, are proposed in this paper. By using the proposed methods, the harmonic currents are obviously reduced and the speed responses of the IPMSM are clearly improved. A detailed analysis is discussed. A digital signal processor, type SH7237, manufactured by Renesas Electronics Corporation is used for the control algorithms. Experimental results show that those proposed periodic controllers reduce up to nearly 32% of the total harmonic distortion at the stator currents, and also apparently improve the transient, tracking, and repetitive load disturbance speed responses.