In this paper, a simplified finite‐control‐set model predictive control (FCS‐MPC) method with a deadbeat solution is proposed for eight‐switch, three‐phase, neutral‐point‐clamped converters (ESTP‐NPCs). Specifically, in order to improve the computational efficiency, a novel sector distribution scheme is presented by dividing the whole voltage vector space into eight sectors. In the each sector, only three voltage vectors are determined as new candidate finite control sets (FCSs), and then the optimal voltage vector that minimizes the predesigned cost function is selected from the new candidate FCS. Meanwhile, in order to avoid the selection of the weighting factor, a multiobjective optimization strategy based on an average ranking is introduced into the proposed strategy. In addition, the DC‐link capacitor voltage oscillations and deviations are suppressed effectively, and the time delay of control command is compensated. In view of these characteristics, the proposed control strategy (i) has lower computational burden, (ii) has good dynamic performance, (iii) does not need the tuning of weighting factor, and (iv) does not need the modulation method. Finally, compared to the conventional FCS‐MPC, the proposed method is more efficient as demonstrated by simulation results. © 2018 Institute of Electrical Engineers of Japan. Published by John Wiley & Sons, Inc.